Crude oil price continues to trade above the $45 level supported by vaccine news

Crude oil remains supported by vaccine hopes, but rising Covid-19 cases and new restrictive measures could significantly reduce oil demand. The price of crude oil has advanced above $46 this November, and the current price stands around $45. Fundamental analysis: OPEC will allow to increase output by 500K bpd starting in January The U.S. Food and Drug Administration is likely to approve the coronavirus vaccine by the mid of December, and this could add another support to the price of oil. Pfizer applied for vaccine approvals, and the company announced that they could begin to distribute the vaccine in the