Live Breaking News & Updates on Complementing Demand
Stay updated with breaking news from Complementing demand. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
2/2/2021 12:54:27 PM GMT Brent Crude broke a critical fundamental level of $57 a barrel, a psychological resistance that may see Brent continue to price pre-Coronavirus levels. Brent Crude Oil Bulls Looking for $58 This is likely on the news that more Americans have received at least one dose of a Coronavirus vaccine than having tested positive for the virus. The United States has been administering vaccines to citizens faster than any other country, with Bloomberg estimating the administration rate at around 1.34 Million doses a day. Oil Supply Side Providing Headwinds, Complementing Demand Strength With the demand side of Oil improving exponentially, OPEC has started to increase crude supply by 300,000 barrels to the market in January – showing their confidence in oil prices’ stability now and going forward. However, disruptions and African nations Nigeria and Libya have slightly offset the supply hike, with a leak in a fundamental pipeline in Libya along ....