SINGAPORE – Reuters: Global oil prices fell yesterday, Friday, by more than one percent, to continue for the third consecutive day, incurring losses and heading towards the second monthly decline, due to the growing fears that the rise in Covid-19 infections in Europe and the United States may harm fuel consumption. He added that it is unlikely that oil prices will maintain any rise in this climate that lacks any statement from the “OPEC +” group. The group is expected to produce 2 million barrels per day in January as part of their production deal. The forecast for 2021 was also reduced to $ 49.76 a barrel from last month’s average of $ 50.41. But the International Energy Agency says a second wave of COVID-19 is slowing demand and hindering producers’ efforts to balance the market.

Source: Libya Today October 30, 2020 23:09 UTC