Yet another piece on shaky oil demand, this time from Bloomberg’s Elizabeth Low and Alex Longley, here…
“The oil market, however, still faces an uncertain outlook with an executive at trading giant Vitol Group saying prices have little room to increase in the fourth quarter because the demand recovery is slowing amid new coronavirus restrictions.”
”Crude’s recovery will be long and gradual, Russian Energy Minister Alexander Novak said on Sunday, estimating global demand this year will drop by as much as 10% from a year earlier.”
”Oil demand has become more “uncertain,” Bake said on a conference call hosted by Dubai consultant Gulf Intelligence.”
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