during today's session, the Saudi Stock Market (Tadawul) crossed the nine thousand point barrier for the first time since mid-2019, supported by optimism about economic recovery and an increase in oil prices. < / p>
and according to Arabnet in a statement that during the past week, US crude prices recorded weekly gains of 4.7%, while Brent crude rose 5.3% over the same week in the middle Growing confidence in the ability of the global economy to recover relatively from the repercussions of the pandemic.
A report by the International Platts Agency for Oil Information suggested that global oil consumption would witness a faster pace than the rise in absolute volumes since the 1970s over the next three years. p>
In turn, Bank of America expected that total oil demand would grow by about nine million barrels by 2024, while it is estimated that 5.3 million barrels per day of this will be achieved. Total in 2021, 2.8 million barrels per day in 2022, and 1.4 million barrels per day in 2023.
Crude oil prices have continued their price gains due to several concerted positive factors, most notably the US financial stimulus and hopes for a recovery in demand, in addition to the wide impact of production restrictions implemented by OPEC + Which balanced the global supply of crude oil.
