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World’s Oil Market in Late 2020
[Мировой Рынок Нефти В Конце 2020 Г]

Author

Listed:
  • Kaukin Andrey

    (The Russian Presidential Academy of National Economy and Public Administration; Gaidar Institute for Economic Policy)

  • Miller Eugenia

    (The Russian Presidential Academy of National Economy and Public Administration)

Abstract

The refusal to sharply increase oil output by the OPEC+ deal participants and the news of the launch of vaccinations against the coronavirus were positively received by the world oil market: on December 10, for the first time since March 2020, Brent crude futures rose above $50 per barrel. The risks threatening oil price recovery and market balancing have been the additional containment measures adopted in a number of countries in response to the “second wave” of the pandemic and the resulting demand shrinkage. The upward trend may be sustained by the start of mass-vaccination programs and the subsequent confirmation of their effectiveness, as well as the continued concerted actions by the OPEC+ participants.

Suggested Citation

  • Kaukin Andrey & Miller Eugenia, 2021. "World’s Oil Market in Late 2020 [Мировой Рынок Нефти В Конце 2020 Г]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 1, pages 7-10, January.
    • Handle: RePEc:gai:recdev:r2102
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    Citations

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    Cited by:

    1. Knobel Alexander & Firanchuk Alexander, 2021. "Внешняя Торговля В 2020 Г.: Преодоление Падения," Russian Economic Development (in Russian), Gaidar Institute for Economic Policy, issue 3, pages 12-17, March.
    2. Knobel Alexander & Firanchuk Alexander, 2021. "Foreign Trade in 2020: Overcoming the Downturn [Внешняя Торговля В 2020 Г.: Преодоление Падения]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 3, pages 12-17, March.
    3. Kaukin Andrey & Miller Eugenia, 2021. "Динамика Промышленного Производства В Четвертом Квартале 2020 Г," Russian Economic Development (in Russian), Gaidar Institute for Economic Policy, issue 2, pages 23-27, February.

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