Oil prices under pressure from the spread of the coronary

The price of a crude oil barrel on the London market fell for 72 cents to $443. In the American market, an oil barrel fell for 68 cents to $40,33.

Yesterday, the price in London rose 1.5 percent and in the United States by 1.8 percent after publishing data on the production activity of expectations in Asia, Europe, and the United States.

The <x0m> news from Asia and Europe comes amid concerns that the coronary crisis is not likely to be limited to the US and Brazil, but to the rest of the world in the second wave of infection,” Paola Rodriguez Masiu from Rystad Energy said.

The demand for fuel is under pressure from the harshest closing measures in cities from Manila to Melbourne due to new infections, while Norway has banned shipping traffic.

Analysts see signs of an uneven increase in demand in possible growth of US derivative stock last week, according to a preliminary Reuters study before the weekly publication of the American Oil Institute, which will be published later in the day, and the American Government on Wednesday.

Furthermore, members of the oil exporter countries organisation (OPEC) and its partners, named OPEC +, expected to increase production this month by adding about 1.5 million barrels per day to the oil market. US producers also plan to resume closed production.

Most oil market participants expect more pressure on oil prices in the face of heavy demand due to COVID-19 and additional barrels from OPEC+, Stephen Ines from AxiCorp said.

The OPEC reported on its website today that the price of a barrel of oil from its members was $34.02 on Monday, an increase from the day before.