The Crude Oil Prices Resilient Despite Demand Doubts spreading of another waves in Asia Despite growing demand fears due to new outbreaks of covid across Asia, oil prices have remained resilient this week. Crude prices Crude prices on Friday, August 13th, 2021 have pulled off a noteworthy performance this week, with Brent remaining above the $70 per barrel mark despite mounting COVID fears in China and the U.S. While President Biden called on OPEC+ to drill more in order to counter rising gasoline prices, the IEA downgraded its demand forecast for the remaining months of 2021, wary that Asia’s Covid recovery might not be as swift as previously thought.
