Oil demand is finally bouncing back despite the fact that Covid cases are rising and additional travel restrictions have been put in place. For more great energy content, make sure you subscribe to the Oilprice youtube channel for breaking news and analysis. Friday, April 16th, 2021 Oil prices moved higher this week after the demand outlook improved. While Covid cases are up significantly from a few weeks ago, and travel restrictions have proliferated, demand still looks strong and on the rise. IEA raises oil demand forecast. The IEA raised its oil demand forecast for 2021 by 230,000 bpd, citing improving vaccination efforts and U.S. stimulus. Exxon spends huge sums to defeat proxy moves. ExxonMobil (NYSE: XOM) is spending above $35 million to block proxy votes by activist shareholder Engine No. 1, and could spend as much as $100 million, according to Reuters, although Exxon disputes that figure. Analysts say […]