The last time it was so high was almost a year ago, on February 20, 2020. This mark was strong then, and now it is becoming a significant resistance. Fixation of quotes above 60$ will open the way to 65.5$ and further to 68$.
The OPEC+ deal is bearing tangible fruit, but we should not forget about shale oil, whose production companies are able to promptly turn on when prices are favorable.
Either way, money-inflated markets are showing uptrends, but 2021 does not promise to be a quiet year.