Oil hardly changed as traders fret about demand
Concern that demand will remain under pressure amid rising coronavirus cases across Europe and in the US weighs on the market
14 October 2020 - 07:28
Singapore — Oil prices were steady on Wednesday on concerns that fuel demand will continue to falter as rising coronavirus cases across Europe and in the US, the world’s biggest oil consumer, could impede economic growth.
Opec said in its monthly report on Tuesday that oil demand in 2021 will rise by 6.54-million barrels a day (bbl/day) to 96.84-million barrels a day, 80,000bbl/day less than its forecast a month ago, as a result of the economic dislocations caused by the coronavirus pandemic...
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