Oil returns to pre-pandemic prices

Press/Media: Expert Comment

Period8 Feb 2021

Media contributions

1

Media contributions

  • TitleOil returns to pre-pandemic prices
    Degree of recognitionInternational
    Media name/outletSydney Morning Herald
    Media typeWeb
    CountryAustralia
    Date8/02/21
    DescriptionMacquarie 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/AuthorLucy Battersby
    URLhttps://www.smh.com.au/business/markets/asx-to-rise-reporting-season-heating-up-20210208-p570eu.html
    PersonsLurion De Mello