Crude Oil Prices During December 2020: Care Ratings
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Care Ratings Research Report
The prices of Brent Crude and West Texas Intermediate have increased sharply by 14.1% and 13% during December 2020 as against the price prevailing during November 2020 but has declined by 25.3% and 21.1% as against the price prevailing during the same month in the previous financial year.
In the start of the month, oil prices rose with support from an OPEC plus deal and hopes for another round of U.S. stimulus.
The cartel had agreed to slightly ease their deep oil output cuts from January suggesting recovery in demand going forward.
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