Oil dips as Covid-19 numbers likely to slow demand recovery
Opec member Iraq pledging to to cut output further in August helped cap oil price losses
07 August 2020 - 11:38
London — Oil dipped to about $45 a barrel on Friday on worries that a demand recovery would slow due to a resurgence of coronavirus cases, though a pledge from oil cartel Opec member Iraq to cut oil output further in August lent support.
The resurgence of infections remains a key issue for the market and demand outlook. Tallies show cases in the US are rising in a number of states. India reported a record daily jump in infections on Friday...
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