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  1. A jab for the economy

    ... been worse if not for the positive signals from China. The dip in economic activity in China during the pandemic actually ended in February 2020, and the economy started to grow in March, while most of the other major economies bottomed out in Q2. The OPEC+ deal, which stabilised oil prices, also played a role. By way of reminder, after Brent traded at USD 64 per barrel in January 2020, a combination of rapidly growing inventories and limited storage capacity caused the price to bottom out in April ...