Survey shows oil prices are not expected to make much progress in 2021

Both crude benchmarks on track to end year about 20% lower

OPEC+ meeting on January 4 looms over the market

US crude inventories fell 562,000 barrels in the week to December 18 to 499.5m barrels

Analyst says given scale of crude’s two-month rally, deeper correction cannot be ruled out

Negative sentiment overshadows weekend deal for $900b US relief package

Prices also boosted by US lawmakers edging closer to deal on $900b relief package

Gains capped by surprise rise in US crude stocks, tighter Covid lockdowns

Commodity has recovered in past few weeks supported by hopes of demand recovery

Prices extend gains after shipping firm said oil tanker was hit by external source at Jeddah port