Title Oil returns to pre-pandemic prices Degree of recognition International Media name/outlet Sydney Morning Herald Media type Web Country Australia Date 8/02/21 Description Macquarie Business School senior lecturer Lurion De Mello said the rise above $US50 is thanks to “careful supply management from OPEC and OPEC+ countries”.
“The recent climb towards $US60 is mainly driven by optimistic growth in the US with an up tick in manufacturing. This is in addition to the new US governments expected stimulus injection,” Dr De Mello said.
“China has been stockpiling crude oil since the start of the pandemic and recent reports have cited a decline in their inventories. This is likely to result in China looking to start building inventories again in the coming months adding further upside to prices.”
Producer/Author Lucy Battersby URL https://www.smh.com.au/business/markets/asx-to-rise-reporting-season-heating-up-20210208-p570eu.html Persons Lurion De Mello