LONDON: Oil dipped to around $45 a barrel on Friday on worries that a demand recovery would slow due to a resurgence of Covid-19 coronavirus cases, although a pledge from Opec member Iraq to cut oil output further in August lent support.
The resurgence of infections remains a key issue for the market and demand outlook. Tallies show cases in the United States are rising in a number of states. India reported on Friday a record daily jump in infections.
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