The FX PostThe FX Post
    What's Hot

    Man charged in New York with 3-week kidnapping to try to steal Bitcoin

    May 30, 2025

    Goldman Sachs Expert Predicts Significant Gold Price Surge by 2026

    May 29, 2025

    Second suspect in New York bitcoin kidnapping surrenders to police

    May 28, 2025
    The FX Post The FX Post
    • Best Fx Robots
    • Forex
      • News
      • Forex 101
      • Forex Forecasts
      • Broker Reviews
    • Crypto
      • News
      • Crypto 101
      • Crypto Forecasts
      • Crypto Reviews
    • Indices
      • News
      • Analysis
      • Commodities
      • Reviews
    • Automated Trading
      • Forex Signals
      • Forex Robots
      • Copy Trading
    • Top
      • Best Forex Robots
    The FX PostThe FX Post
    Home » Omicron Covid Variant to Erode Global Demand for Oil, Says IEA
    Indices News

    Omicron Covid Variant to Erode Global Demand for Oil, Says IEA

    December 14, 20211 Min Read
    Facebook Twitter Pinterest LinkedIn Reddit
    Explicit Illustration depicting the historic fall of the price of crude oil with downdown arrow an oil well in silhouette in the background
    Share
    Facebook Twitter LinkedIn Pinterest Reddit

    Omicron’s variant emergence will allow the global oil supply to surpass the rate of consumption, easing supply tightness in the recent months.

    • The IEA cut its 2022 supply outlook from non-OPEC producers by 100,000 barrels per day and lowered its demand forecast by the same amount, stating it expects an increase in COVID-19 cases to hamper recovery in the global demand.
    • In its monthly market report, IEA stated that air travel and the consumption of jet fuel would be affected the most by the Omicron variant.
    • Concerns that the global economic recovery and resurgence in global oil demand would cause inflationary pressures pushed the oil-producing nations to tap their strategic oil reserves in November.
    • Oil prices have fallen sharply on fears of the new COVID-19 variant on the global economy.

    Brent crude rose 0.5% to stand at $74.77 per barrel, and U.S. crude futures rose by 0.5% to stand at $71.62 per barrel.

    CL1! up +0.46%, USOIL up +0.44%Source: IEA

    Markets are invaded by algorithms
    Secure your passive income with algo-based trading systems
    Learn more
    COVID-19 Oil Omicron OPEC Petroleum
    Share. Facebook Twitter Pinterest LinkedIn Reddit

    Related Posts

    OPEC+ Market Share Decline

    March 6, 2024

    Murphy Oil’s Q4 Earnings Decline, Increases Dividend, and Forecasts Future Production

    January 25, 2024

    The Federal Reserve’s 2022 Survey of Consumer Finances

    January 4, 2024

    OPEC Expected to Stabilize Oil Prices in 2024

    November 17, 2023
    Add A Comment

    Leave A Reply Cancel Reply

      −  8  =  1

    Best FX Post
    Best Forex Robots (Expert Advisors) 2021

    Best Forex Robots (Expert Advisors) 2022: Passive Income From Algo Trading Systems

    July 7, 2021

    Top 10 Lending Platforms for Crypto Loans

    June 1, 2022
    forex eurusd trading charts

    Top 10 Best Forex Brokers In All Times

    June 1, 2022
    Recent Posts
    • Man charged in New York with 3-week kidnapping to try to steal Bitcoin
    • Goldman Sachs Expert Predicts Significant Gold Price Surge by 2026
    • Second suspect in New York bitcoin kidnapping surrenders to police
    • Apple to debut dedicated gaming app within days of Nintendo Switch 2’s arrival
    • Satoshi Nakamoto, BlackRock, and TechBerry — a new investigation by Newsweek
    Featured Reviews

    Traders Connect Review

    May 18, 2023

    System Levels Review

    May 26, 2023
    TechBerry

    TechBerry Review: Pros, Cons, Recommendations

    September 18, 2021
    Categories
    • Analysis
    • Automated Trading
    • Best FX Post
    • Broker Reviews
    • Commodities
    • Copy Trading
    • Crypto
    • Crypto 101
    • Crypto Bots
    • Crypto Forecasts
    • Crypto Reviews
    • Crypto Robot
    • Forex
    • Forex 101
    • Forex Forecasts
    • Forex Robots
    • Forex Signals
    • Forex Signals
    • Guides
    • Indices
    • News
    • News
    • News
    • News
    • Reviews
    • Reviews
    • Uncategorized
    Twitter BlogLovin
    © 2025, Thefxpost.com.
    • Contact

    Type above and press Enter to search. Press Esc to cancel.