Real reason oil prices rose despite surge in COVID-19 ravaging India, World’s third biggest oil consumer Oil rose to $67 a barrel as optimism over a strong demand rebound in countries including the United States and China countered concern about a surge in India’s coronavirus cases and higher OPEC+ oil supply. Although India has reported more than 300,000 new coronavirus cases for a 12th straight day. The new wave of the virus has already led to a drop in fuel sales in the world’s third-largest consumer in April.…
Read MoreOil Surges to $67 Per Barrel, Price Recovery Divides Analysts
