Investing.com investing.com 04 Jan, 2021 21:45 am

Oil Starts 2021 Lower On OPEC, COVID Worries By Investing.com

Oil Starts 2021 Lower On OPEC, COVID Worries By Investing.com
Oil Starts 2021 Lower On OPEC, COVID Worries

com -  After ending the worst year in oil trading down 21%, crude prices began 2021 on a weak note as well, hampered by worries about rising production in a world where demand for fuels remained suspect from the protracted coronavirus crisis.Crude prices have been on the defensive since a seven-week rally from November ended on concerns about a variant of Covid-19 that the authorities said spreads much faster and could lead to overruns in the health system.Crude prices actually rose after that OPEC maneuver — a feat that might not recur.That saved crude prices almost certainly from a deeper fall.

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