Investing.com investing.com 18 Dec, 2020 04:45 am

Oil Down, Rise in COVID-19 Cases Leads to Fuel Demand Worries By Investing.com

Oil Down, Rise in COVID-19 Cases Leads to Fuel Demand Worries By Investing.com
Oil Down, Rise in COVID-19 Cases Leads to Fuel Demand Worries

Oil prices climbed on Thursday over optimism around the bill’s progress and strong Asian refining demand.“While rising consumption in Asia and demand hopes linked to a COVID-19 vaccine may help oil prices above this range ($50-$60 a barrel), we think OPEC+ sits on enough spare oil capacity to keep any surge in oil prices in check,” the note added.Oil slips in breather after run to 9-month high as COVID-19 surge stokes demand fears p By Sonali Paul MELBOURNE (Reuters) - Oil prices eased on Friday but stayed within touching distance of nine-month highs hit overnight as soaring COVID-19 cases weigh on fuel.“We think markets are still overlooking the near-term demand pressures of rising COVID-19 cases and COVID-19 restrictions in the U.

The rising number of COVID-19 cases globally and tighter restrictions in some countries such as Japan, pressure to limit oil supply on the Organization of the Petroleum Exporting Countries (OPEC) and allies, or OPEC+, is growing, according tp ANZ Research.com – Oil was down on Friday morning in Asia, with ever-rising numbers of COVID-19 weighing on fuel demand and the U.

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