Crude oil prices traded firm yesterday on healthy gasoline demand in the US and an overall constructive report from OPEC. The group now expects global oil demand to increase by 5.89MMbbls/d YoY in 2021 as compared to its estimate last month of 5.79MMbbls/d. OPEC expects the demand recovery to be much stronger over the second half of 2021 as vaccines are now widely available and administered. The ongoing lockdown measures in Europe could continue to weigh on demand in the short term. The group also revised higher its demand estimates for 2020 and reported that demand may have fallen by 9.60MMbbls/d last year, as ... (full story)