$70 Oil May Cause Slowdown In Demand Recovery
Premium Content $70 Oil May Cause Slowdown In Demand Recovery By Tsvetana Paraskova - Mar 08, 2021, 7:00 PM CST While the unexpected rollover of the OPEC+ production cuts sent Brent Crude prices up to $70 a barrel, the highest oil prices in more than a year could dampen global oil demand recovery, which the OPEC+ group itself still sees as fragile. After the surprise OPEC+ move last week, crude oil prices rallied faster and higher than many forecasters had predicted just a week ago as the market expects supply shortages amid recovering demand. Oil at $70 a barrel is good f...
Source: oilprice.com
