$40 Oil Is The New Normal

Oil prices have already reached an interim stage of recovery. The 40-dollar mark is the level around which they will fluctuate for a while, but huge deviations are not likely. Further gains or 45-50 dollars would not be justified at this stage despite the supply curtailments as there are still valid concerns on the demand side. The pandemic has not disappeared, it’s tiring for many to refer to Covid-19 again and again, but the reality demands it. Infections are rising in key markets around the world and there are valid concerns that the world…