Currently, there is a continuous decline in the condition of the oil despite the OPEC + agreement. It is also somehow affected by the current state of the world economy due to the grave crisis it is facing at present. According to the IMF forecast, there is a drop of -3% in the global GDP for this year. Several developed countries, like Great Brittain, have experienced a huge drop where in the country alone there is a notable -35% drop in its GDP for the 2nd quarter. Due to this, an increase in oil demand is still not expected.
Coronavirus:
Presently, the US and Europe have begun to report stabilization of their condition on the coronavirus pandemic.
Russia, on the other hand, continues to record additional cases. At present, it has recorded another additional 3,338 confirmed cases, rising to a total of 21,100 confirmed cases where 14,772 of which came solely from Moscow. In just a day, it has recorded an increase of 13.6%. In my article last March 31, I estimated that the number of confirmed cases in Moscow will reach to 15 thousand by April 15. Which, as we know did happen.
As I have mentioned in my previous articles, stabilization requires a drop in daily growth to no more than 7% and such a drop in growth already happened in all countries of Europe and in the USA. As for Russia, I am waiting for stabilization to begin by Sunday, April 19, which is by Easter. I hope that believers in Russia will listen to the Russian Orthodox Church and will not go to mass events. All mass services are also canceled in Ukraine.
