Oil prices opened about 1% lower on Sunday as a persistent glut continued to weigh on prices and the coronavirus pandemic eroded global oil demand even as some governments began to ease lockdowns. Global oil demand has plummeted by about 30% as the coronavirus pandemic curtailed movement across the world. “Oil companies are dealing with a plethora of challenges due to the sudden decline in demand,” Haseeb Ahmed, oil and gas analyst at GlobalData, said in a note.
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