26 days ago • Posted by William Ramstein

Oil falls on concerns of a virus resurgence affecting some economies

Moreover, OPEC and allies plan to ease deep supply cuts (cuts pushes supply leftward, increasing price) which could see price begin to lower. However, the current slump is more closely tied to a flare up in covid cases in India. We should expect an uneven recovery as vaccines get distributed unevenly.

Source: Bloomberg

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