Oil Prices Under Pressure Despite An Optimistic Outlook

After a respectable rally last week, oil prices are set to come under pressure as some European countries begin to tighten coronavirus restrictions amid the spread of the latest variant. Although available data suggests that the Omicron variant causes milder symptoms than Delta, governments and health authorities remain highly concerned about its spread. Naturally, this is not helping build optimism in the oil space, where players still vividly remember the lockdowns from last year. Even though experts seem to be of the opinion that no economy…