¬†Oil rose above $69 a barrel on Tuesday, recouping some of the previous session’s 7% slide, as a tight physical market pushed aside concerns about rising COVID-19 infections weakening the demand outlook and higher OPEC+ supply. In a sign of tight supply, crude inventories in the United States are expected to fall for a ninth week. OPEC expects world oil demand to grow by 6.6% in 2021 with the expansion focused on the second half of the year. “The oil market is still facing a supply deficit over the remainder of the year. This should limit the downside for oil prices,” said Stephen Brennock of oil broker PVM. “That being said, the market is […]