This week, the oil giantThe recovery of oil prices remains stalled.But oil demand could rebound sharply next year.reports that demand for OPEC-sourced crude oil will recover 25% in 2021 and surpass levels seen in 2019, according to an OPEC report.
After a historic deal in April to curb oil production in the wake of the coronavirus pandemic, OPEC and its allies will raise production by 2 million barrels per day starting next month, as stipulated in the April agreement. California's biggest oil driller, California Resources, filed for Chapter 11 on Thursday. Just a few days earlier, fracking-sand supplier Hi-Crush also filed.
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