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Institutional analysis: Oil prices were boosted by Saudi Arabia's demand for oil bets

 Last Update: 2023-03-20
 Source: Internet
 Author: User

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Oil prices erased some of last week's losses as Saudi Arabia raised prices for January oil sales to Asia and the United States, seemingly betting on strong demand for future oil
.
U.
S.
and Burundian oil futures both rose more than 4%
during the day.
However, pessimistic forecasts still cast a shadow over the outlook for oil demand, with some analysts suggesting that WTI crude prices will fall below $60 per barrel
.
On the outbreak front, the latest report suggests that the impact of the Omicron variant may be weaker
than previously feared.
Initial reports suggest that the strain is more contagious, although the symptoms of
infection are mild.

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