The oil price shows signs of recovery despite the
obvious impact on it due to new lockdowns in Europe.
The lockdown are relatively strict and there are
reports of new variants of the Coronavirus; whether it’s a milder form of the
same virus remains to be seen.
On a positive note, the Asian demand for oil
continues unabated, apart from insignificant fluctuations from time to time.
Hopes of both vaccines and the evolution of the
virus for a milder form, perhaps, will keep the oil price in the present range,
without plunging into the levels that we saw at the beginning of the year.
