Oil Market Still Far From Being Back To ‘Normal’

Worry about oil demand sparked by the resurgence of Covid-19 in some parts of the world and a fund selloff in oil futures has reversed the recent price rally. OPEC+ reaching a deal about future production lent an assist. New Covid-19 infections are on the rise across all 50 states, and there have been jumps in new cases in some European countries as well, notably the UK and France. In the UK, the latest wave is ebbing, according to the latest reports, but optimism is in short supply as it is still unclear why it is ebbing. Meanwhile, Saudi Arabia…