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  • oil prices have sharply rebounded in a volatile year like no other.

  • But the outlook isn't all that rosy for 2021.

  • Back in April, the cove in 19 pandemic and a price war between Saudi Arabia and Russia torpedoed US crude prices into negative territory and drove Brent crude to below $20 per barrel.

  • Brent has since bounced back to $51.

  • But new lockdowns and a phase rollout of vaccines could keep a lid on demand in 2021 possibly beyond.

  • What s'more climate change concerns could keep fossil fuel demand soft even after the pandemic is over.

  • Some big oil companies say global oil demand may have peaked in 2019.

  • The U.

  • S Energy Information Administration says crude and liquid fuel consumption dropped 9% in 2020 from last year as governments imposed lockdowns to curb the spread of the coronavirus get set for more volatility.

  • The next several months are likely to be rocky as investors weigh tepid demand against another potential spike in oil supply from producers.

  • AH crude oil volatility index from the C B.

  • O.

oil prices have sharply rebounded in a volatile year like no other.

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B2 oil crude volatility demand brent fuel

Get set for more volatility in oil prices in 2021

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    林宜悉 posted on 2020/12/31
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