New Lockdowns Dash Hopes Of A Rapid Oil Demand Recovery In Europe

Extended lockdowns in response to the continuing surge in Covid-19 infections in Europe has quashed hopes that fuel demand on the continent could rebound in the first half of the year, Reuters has warned. Citing data from the Oxford stringency index, which tracks school and office closures and travel restrictions, the report notes that most of Europe is in the grips of the most severe movement restrictions, which is affecting fuel demand negatively. Traffic data supports the warning, as Germany and Italy extend lockdowns that were already in place…