Crude oil is gaining about 2% today, although at one point it jumped almost 3%. EIA today released positive data regarding oil demand:
- 2021 world oil demand to increase 180K to 5.5M
- 2022 world oil demand to decrease by 180K to 3.65M bpd
- Crude oil output in 2021 to fall 270K to 11.04M
The price of WTI crude oil fell below $ 60 per barrel, despite the weaker dollar, which has been clearly losing since the start of the US session. A short-term divergence has now developed. Data from the oil market are good, although investors still do not know how to evaluate the recent OPEC + agreement on moderate production increases. Source: xStation5
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