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[size=30]Oil developments extinguish the fears of traders and investors after recording these prices[/size]
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Oil prices extended, on Wednesday, small gains the previous day after an industry report showed a decline in US crude stocks last week, overcoming the concerns of traders and investors about transport restrictions in some countries as cases of the Corona virus rose [size=15].[/size]
[size=15]Brent crude was 53 cents, or 0.73%, at $73.51 a barrel by 05:06 GMT .[/size]
[size=15]And US crude rose 53 cents, or 0.7 percent, to $ 73.51 a barrel, after rising 0.1 percent in the previous session .[/size]
[size=15]The highly contagious delta of the Corona virus is spreading in many countries, leading to new closures or restrictions on movement from Australia to Portugal, but hopes for a broader recovery in fuel demand remain .[/size]
[size=15]Data from the American Petroleum Institute showed that crude stocks in the United States fell by 8.2 million barrels, while gasoline stocks rose by 2.4 million barrels and distillate stocks increased by 428,000 barrels .[/size]
[size=15]But hopes for a broad recovery received a boost from Mohammed Barkindo, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), who said on Tuesday that demand is expected to rise by six million barrels per day in 2021, with 5 million barrels per day of that in the second half. of the year .[/size]
[size=15]The meeting will take a decision on the group's production policy as it moves to release some of the barrels that it was withholding from the market to support prices after the evaporation of demand in 2020 .[/size]
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