Commodity trading giant Trafigura expects a strong rebound in oil demand next year thanks to mass vaccinations, which will push crude oil prices to $55-60 a barrel, Argus Media reported, citing the company’s chief economist Saad Rahim. “You have already seen a strong recovery in many places — certainly in China, but also in Europe and Japan, for example. The United States is lagging in some parts, but I think we can see some stronger momentum. India had taken a major hit, but the momentum there is also looking strong,” Rahim told Argus. China’s oil demand has certainly rebounded, with processing rates at Chinese refineries hitting all-time highs in October and November. Indian demand is also firmly on the mend as people opt for personal rather than public transport, boosting demand for gasoline. Europe, on the other hand, is still battling with surging Covid-19 infections, with several countries recently […]