SINGAPORE — JPMorgan says crude costs might see additional upside forward as oil continues to see sturdy positive aspects to date this yr.It comes towards the backdrop of an bettering international outlook as main economies press forward with their ongoing coronavirus vaccination campaigns.”I feel there’s room for oil costs to maneuver slightly bit greater on this setting however, you realize, not eager about a value of $80 or $90 a barrel. Maybe it goes up by $5 or $10 extra from right here,” Kerry Craig, international market strategist at JPMorgan Asset Management, instructed CNBC’s “Street Signs Asia” on Friday.In the afternoon of Asia buying and selling hours on Friday, worldwide benchmark Brent crude futures had been at $62.91 per barrel. U.S. crude futures modified arms at $59.34 per barrel. Both Brent and West Texas Intermediate crude futures have risen greater than 20% every to date in 2021.Oil costs have moderated in latest days after surging to their highest in additional than a yr.Just this week, a lethal winter storm in southern U.S. resulted in days of energy outages in Texas, wrecking havoc on the state’s vitality infrastructure and taking thousands and thousands of barrels per day of oil manufacturing offline. Energy costs popped because of that growth.Key drivers for greater oil pricesThere are two issues that may seemingly drive oil costs going ahead, in response to Craig.Firstly, demand for oil is anticipated to select up as the worldwide financial system recovers from the hit of the coronavirus pandemic, he mentioned. However, that can be “curtailed to a sure extent” as a result of low probability of worldwide journey coming again in a giant means quickly. Travel is an “necessary supply of demand,” he added.On the provision aspect, he mentioned: “We’re nonetheless counting on these OPEC+ members to maintain that provide comparatively curtailed and I feel there’s nonetheless a query about that when it comes to the quantity of provide approaching relative to demand.”OPEC and its allies, recognized collectively as OPEC+, have sought to navigate their means via a traditionally tumultuous interval that has included an unparalleled collapse in oil costs in addition to a serious gas demand shock amid the pandemic.— CNBC’s Sam Meredith, Jeff Cox and Pippa Stevens contributed to this report.Subscribe to CNBC PRO for unique insights and evaluation, and dwell enterprise day programming from world wide.