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Thai Oil Public Company Limited reported the situation of crude oil to close daily Dec. 15, 2020 West Texas crude rose 0.63 to close at $ 47.62 a barrel. Brent crude was up $ 0.47 to close at $ 50.76 a barrel.
West Texas and Brent crude oil prices continued to increase. Investors are hopeful of economic recovery from the start of vaccination against COVID-19 in countries, with the United States launching the vaccine last Monday. This was followed by Canada who started vaccination on Tuesday. For staff working closely at risk
Meanwhile, the US Energy Information Administration (EIA) lowered its forecast for global oil demand this year. In the month report
December contracted 8.8 million bpd, down 0.05 million bpd compared to the previous month’s report. It also revised downwards its annual demand forecast by 0.17 million barrels per day. It only recovered at 5.6 million barrels per day. It is in line with the previous OPEC report. Due to the spread of the COVID-19 virus. There is still high uncertainty.
In addition, after the market closed, the US Petroleum Institute of Energy (API) reported US crude oil inventories. For the week ending Dec. 11, 2020 rose 2 million barrels to 495 million barrels, in contrast to analysts expected a drop of 1.9 million.
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