Oil Prices Are Unlikely To Collapse Again

The oil market has already priced in the slowing global demand recovery and the growing uncertainties about the economy amid resurging coronavirus cases in many parts of the world.    Analysts largely concur that oil prices are not expected to move much higher than current levels of around $40 a barrel until the rest of the year, because of still high excess global inventories and the stalled recovery in oil demand with the end of the U.S. driving season and the continued trend of rising COVID-19 cases, especially in major European…