CRUDE OIL OUTLOOKS BY ROYAL TRADERS

NEWS !!!

Crude oil prices traded weak on Friday. WTI crude oil prices fell by 1% to $40.55 in morning trade. Crude prices came under pressure after rising in the previous session on bullish weekly inventory data. Crude oil prices are expected to trade with a bearish bias amid weak demand and oversupply scenario as OPEC+ nations suggest easing output cuts quota by 2 mb per day from January 2021. The demand growth is a constant concern for oil price recovery amid resurgent fears of Covid infections in Euro .

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