Oil rises as global outlook offsets worries over India
The Hindu
‘Demand may increase in second half ’
Oil prices rose on Wednesday as expectations of rising fuel demand offset concerns about the impact of a surge in India’s coronavirus cases and higher U.S. crude inventories. Brent crude futures were up 67 cents, or 1.01%, to $67.09 a barrel at 1352 GMT, after rising 1.2% on Tuesday. An OPEC+ decision to stick to plans for a phased easing of oil production restrictions from May to July underscored the group’s confidence in a recovery in global demand.More Related News