London - Sana
Oil prices declined today with the tightening of the lockdown measures in Europe and expectations of a slower recovery in demand next year.
Reuters reported that Brent crude futures fell by 0.8 percent to $ 49.89 a barrel, and US West Texas Intermediate crude futures fell by 0.8 percent to $ 46.63 a barrel.
In a related development, OPEC yesterday reduced its expectations for a recovery in oil demand in 2021 by 350 thousand barrels per day due to the continuing impact of the pandemic and said that the rapid start of vaccination programs in major economies "indicates a possible rise in growth expectations next year."
