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Dec 14, 2020 11:22 GMTFXStreet News Energy markets are projected to post a respectable performance, but the strength of the increase is likely to be less than one would expect given the magnitude of the demand recovery in 2021. This is owing to OPEC+ large excess capacity, which will be released into the market to match the recovering demand, strategists at TD Securities apprise. Key quotes “On the demand front, the rollout of a COVID-19 vaccine in the early months of the year offers upside promise for both crude and product demand. But while the balance of risks still points in an upward direction, crude is not immune to potential hiccups, as COVID-19 lockdowns can remain a concern in the early months of the year, OPEC rifts emerge and Iran becomes a political talking point once again. All of this suggests that WTI crude could very well return to a 5-handle later in the year, with Brent marginally higher, but a significant move above this level is unlikely as prices are capped

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