WTI fades a spike to $52.70 after IEA cuts global oil demand forecast by 600K bpd for Q1 2021

In its latest monthly oil market report, the International Energy Agency (IEA) lowered the forecast for global oil demand by 600,000 barrels per day (bpd) for Q1 2021 and by 300,000 bpd for 2021 as a whole.

Additional takeaways

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