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Oil Edges Higher Despite OPEC’s Lower Demand View, Lockdowns Bloomberg 12/14/2020 Andres Guerra Luz and Alex Longley (Bloomberg) Oil inched up as the market weighed the risks of toughening restrictions in New York and London ahead of a widely available vaccine. Popular Searches Futures closed at a fresh nine-month high after swinging between gains and losses earlier. The U.S. began administering the Covid-19 vaccine alongside nationwide immunization campaigns in other countries, presenting a path toward a normalization of crude demand. Still, price gains remain limited as reopening plans around the world are impacted by the virus’ spread. London is increasing pandemic restrictions this week amid warnings of a new variant of the disease, while New York City’s mayor said residents should be prepared for a full lockdown. Meanwhile, the Organization of Petroleum Exporting Countries reduced projections for global fuel consumption in the first quarter of 2

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