Reuters: Oil set for 20% drop in 2020 as lockdowns weigh, market eyes more stimulus.

REUTERS

REUTERS

Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralysed much of the global economy, but prices have rebounded strongly from their lows as governments rolled out stimulus.

According to Reuters, on Thursday, the last trading day of 2020, Brent was trading down 25 cents, or 0.5%, at $51.38 a barrel, as of 0246 GMT and U.S. West Texas Intermediate (WTI) lost 0.2%, or 11 cents, to $48.29 a barrel.

Read also Reuters: Oil up on hopes of recovery in demand, lower U.S. inventories

Brent and WTI have more than doubled from decade-lows seen in April, putting past a year which marked the first negative prices for WTI that shocked investors globally.

A January 4 meeting of the Organization of the Petroleum Exporting Countries and allies, including Russia, a group known as OPEC+, is set to boost output by 500,000 barrels per day in January.

Other related news reports

Author: UNIAN

Unian

Read the top-news of politics in Ukraine and the world, the latest political news from the UNIAN news agency.

https://www.unian.info/

Related news
Turning point coming in gas market for RGC Group – Energy minister.

Turning point coming in gas market for RGC Group – Energy minister.

For the companies operating under the brand name of the Regional Gas Company (RGC), with the introduction of restrictions on the price of selling gas to households, a turning point will come, which will determine their further role in the gas mark...

Interfax-Ukraine

Ukraine cuts electricity generation by 3.3% in 2020

Ukraine cuts electricity generation by 3.3% in 2020

Electricity production in the Integrated Power System of Ukraine in 2020 decreased 3.3% compared to the same period in 2019, to 148.81 billion kWh, the Ministry of Energy has told Interfax-Ukraine.

Interfax-Ukraine

Breaking down President-elect Joe Biden’s pandemic relief plan.

Breaking down President-elect Joe Biden’s pandemic relief plan.

ABC News Political Director Rick Klein, ABC News economic correspondent Deirdre Bolton and infectious disease specialist Dr. John Brownstein analyze Biden’s proposed $1.9 trillion COVID relief plan. ABC News Live Prime, Weekdays at 7EST & 9EST WAT...

Incoming Calif. senator: ‘There has to be accountability, nobody is above the law’

Incoming Calif. senator: ‘There has to be accountability, nobody is above the law’

California Secretary of State Alex Padilla, who will replace Vice President-elect Kamala Harris in the U.S. Senate, said he vows to fight for “what is best for California.” ABC News Live Prime, Weekdays at 7EST & 9EST WATCH the ABC News Live Strea...

Virginia governor: President ‘threw a flame on that tinder box’.

Virginia governor: President ‘threw a flame on that tinder box’.

Gov. Ralph Northam discusses the security precautions Virginia is taking in the wake of the siege on the U.S. Capitol and criticizes President Donald Trump’s rhetoric to his supporters. ABC News Live Prime, Weekdays at 7EST & 9EST WATCH the ABC Ne...

1 13

Teachers Are Using TikTok, Media To Help Students Learn Amid Pandemic - NBC News NOW.

Teachers Are Using TikTok, Media To Help Students Learn Amid Pandemic - NBC News NOW.

NBC News spoke to teachers who are using TikTok and broadcast media to engage their students amid at-home learning during the Covid-19 pandemic. » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovative and po...

NBC Nightly News Broadcast (Full) - January 14th, 2021 - NBC Nightly News.

NBC Nightly News Broadcast (Full) - January 14th, 2021 - NBC Nightly News.

Nation on alert ahead of President-elect Biden’s inauguration, President Trump’s impeachment trial could start next week, and ex-governor, former Michigan officials charged in Flint water crisis. Watch “NBC Nightly News With Lester Holt” at 6:30 p...

1 355

Leaders who called for 'extreme' lockdowns reverse stance as Dems take control.

Leaders who called for 'extreme' lockdowns reverse stance as Dems take control.

Committee to Unleash Prosperity head Phil Kerpen joins 'The Ingraham Angle' to talk about policy reversals of Gov. Andrew Cuomo and Mayor Lori Lightfoot who are calling for the economy to reopen after implementing the harshest lockdowns. #FoxNews ...