Traders predict prices will rise higher
oil price recovery
crude oil output
Goldman sees Brent oil at $75 as supply response trails demand
Consumption will get back to pre-virus levels by late July, while output from major producers is likely to remain “highly inelastic” to the rising prices, the bank said in a note
crude oil output
Oil steadies near $48 after falling on suspension of OPEC+ talks
Discussions to resume Tuesday after a majority of members, including Saudi Arabia, opposed Russia’s proposal for another supply hike
Brent Crude
Video: Resurgence of virus outbreak in China darkens oil demand outlook
Oil futures are now sliding, reversing strong gains in New York and trading below $38 a barrel. Fresh signs of a second wave of the coronavirus are causing some to doubt the oil market’s recovery.