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2021-03-21 08:14
[ltr]Shafaq News / Oil prices declined on Friday for the sixth consecutive day, declining by about 9% this week, as a new wave of infections with the new Coronavirus (Covid-19) in particular throughout Europe spurred new closures and dashed hopes for a recovery. Imminent demand for fuel.[/ltr]
For the sixth consecutive day ... Oil continues to decline and losses reach 9%
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2021-03-21 08:14
[ltr]Shafaq News / Oil prices declined on Friday for the sixth consecutive day, declining by about 9% this week, as a new wave of infections with the new Coronavirus (Covid-19) in particular throughout Europe spurred new closures and dashed hopes for a recovery. Imminent demand for fuel.[/ltr]
Goldman Sachs said headwinds related to EU demand and Iranian supplies would slow oil market rebalancing by 0.75 million barrels per day in the second quarter, though it expects OPEC + to compensate for that.
Safety concerns about the side effects of the AstraZeneca vaccine have led many European countries to stop administering the vaccine.
Although Germany, France and other countries announced the resumption of vaccinations after the organizers declared the AstraZeneca vaccine safe, the stoppage of the program made it difficult to overcome vaccine resistance in some populations.
Britain will have to slow the rollout of the COVID-19 vaccine next month due to supply delays.
Several French regions severely affected by the COVID-19 pandemic, including the Ile-de-France region around Paris, will begin a new four-week lockdown starting Friday.
"The market is becoming increasingly nervous about some countries in Europe imposing restrictions linked to COVID-19 again, thus raising concerns about the demand outlook," ING Economics said in a note.
In other parts of the world, Brazil recorded the second deadliest day in the COVID-19 pandemic, with 2,724 deaths, while India on Friday reported the highest daily increase in new cases of COVID-19 in more than three months.
According to the Joint Organizations Data Initiative website on Thursday, oil supplies are also abundant, with Saudi Arabia's crude exports increasing in January for the seventh month in a row to their highest level since April 2020.
Shipments from the world's largest oil exporter increased to 6.582 million barrels per day in January from 6.495 million the previous month.
[You must be registered and logged in to see this link.]
Safety concerns about the side effects of the AstraZeneca vaccine have led many European countries to stop administering the vaccine.
Although Germany, France and other countries announced the resumption of vaccinations after the organizers declared the AstraZeneca vaccine safe, the stoppage of the program made it difficult to overcome vaccine resistance in some populations.
Britain will have to slow the rollout of the COVID-19 vaccine next month due to supply delays.
Several French regions severely affected by the COVID-19 pandemic, including the Ile-de-France region around Paris, will begin a new four-week lockdown starting Friday.
"The market is becoming increasingly nervous about some countries in Europe imposing restrictions linked to COVID-19 again, thus raising concerns about the demand outlook," ING Economics said in a note.
In other parts of the world, Brazil recorded the second deadliest day in the COVID-19 pandemic, with 2,724 deaths, while India on Friday reported the highest daily increase in new cases of COVID-19 in more than three months.
According to the Joint Organizations Data Initiative website on Thursday, oil supplies are also abundant, with Saudi Arabia's crude exports increasing in January for the seventh month in a row to their highest level since April 2020.
Shipments from the world's largest oil exporter increased to 6.582 million barrels per day in January from 6.495 million the previous month.
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