Crude is heading to record weekly losses a few hours before the closing session of the week ends today, Friday, December 17th, as Brent and the American (NYMEX) crude lose more than 1.8% per week, coinciding with the increase in Corona virus cases around the world, especially in the largest crude consuming countries, which Raising concerns about the return of some restrictions that reduce the demand for crude.

And the number of infected people rose in the United States of America, which announced 144,000 cases yesterday, Thursday alone, and the United Kingdom announced 88,000 cases, in addition to Denmark, whose Prime Minister announced that the government may impose more restrictions to limit the spread of the virus.

Despite the US Energy Information Administration’s report supporting crude stocks on Wednesday by 4.6 million barrels in the last week ending on December 10th, compared to expectations that indicated a decline of about 1.7 million barrels for the rise in crude prices on Wednesday and Thursday, but the losses at the beginning of the week and today Friday are still not met.

Covered despite the heights. OPEC and independent producers from outside the organization, led by Russia, are scheduled to meet on the fourth of next January, but some unconfirmed sources said that the system or OPEC + is not unlikely to meet before the fourth of January to review their plans to add 400 thousand barrels per day in January, whether The changes were significant regarding the global demand outlook.

On the other hand, a Goldman Sachs report issued this morning showed that the average global demand for oil will rise to record levels next year and 2023, supported by increased demand for the aviation, transport and infrastructure sectors.\

Brent crude is trading at levels of $73.69 a barrel, down by about 1.77% today, Friday, and is heading to record a weekly loss estimated at 1.8%, while American crude (NYMEX) is losing about 1.96% today, Friday, by trading at levels of $70.96 a barrel, and heading for a weekly loss estimated at 1. 9%.