Oil prices are set to fluctuate around the $40 mark for the foreseeable future as there is too much downside risk for them to move much higher All eyes should be on Iraq this week as it puts forward a plan to achieve full compliance to the OPEC+ deal If OPEC+ countries fail to comply or if a second wave of lockdowns takes place we can expect prices to nosedive Oil prices have already reached an interim stage of recovery. The 40-dollar mark is the level around which they will fluctuate for a while, but huge deviations are not likely. Further gains or 45-50 dollars would not be justified at this stage despite the supply curtailments as there are still valid concerns on the demand side. The pandemic has not disappeared, it’s tiring for many to refer to Covid-19 again and again, but the reality demands it. Infections are […]