Monday, Rystad Energy's Head of Oil Markets, Bjornar Tonhaugen, has commented on the day’s developments: “As the beginning of 2021 coincided with a crucial OPEC+ meeting, the beginning of the year kickstarted an oil price rally that is now running out of steam. Markets are struggling to hang on to the generous gains oil prices formed in previous weeks, as traders fear that the pandemic will still keep on affecting global economies and mobility. Oil has been enjoying a mini up-turn on wrong assumptions that the vaccines that everyone hoped for would quickly be applied and also cure oil demand….
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