Global crude oil prices stimulated by optimistic economic forecast
According to the impact from the COVID-19, the global crude oil had facing huge pressure, mainly caused by the weak global demand and over-supply worry.
However, on May 5th, the crude oil price in the West Texas Intermediate had increased by nearly 18%, reached US$24/barrel, which was also the fifth consecutive increasing day.
Some of the market participants believed the worst time already past, and the demand would resume gradually in the future due to the optimistic economic forecast.
