Oil prices are on course for the largest weekly drop since March, although prices began to bounce back on Friday morning as optimism slowly returned to markets. For more great energy content, make sure you subscribe to the Oilprice youtube channel for breaking news and analysis. Friday, May 21st, 2021 Oil is heading for the biggest weekly drop since March, following three consecutive days of huge losses. Still, oil recouped some losses on Friday, edging up after getting sucked down with a broader selloff in commodities. IEA says no new fossil fuels. The IEA’s Net-Zero report dropped like a bombshell midweek. The IEA said that to reach net zero, there should be no new oil, gas, and coal projects. There was no shortage of proponents and critics, but either way, the report could influence how investors think about oil. Asia snubs IEA report. “The report provides one suggestion as […]