Brent Crude Oil week 52

Brent crude futures rebounded to trade slightly higher around $50.4 a barrel on Tuesday as investors digest fresh concerns over global fuel demand as countries tighten coronavirus restrictions. Germany and the Netherlands will enter a new lockdown, the UK government imposed tighter Covid-19 measures on London and in NY the Governor warned the city is on a path toward a second full shutdown. Meanwhile, OPEC lowered its projections for global fuel consumption in Q1 2021 by 1 million barrels a day. The cartel is expected to meet on January 4th to evaluate if they can move on with supply increases.

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