Markets continue to be buoyed by the availability of two COVID-19 vaccines so far, with a third one, by AstraZeneca, approved this week by the UK. The AstraZeneca vaccine has several advantages, the main one being it does not need ultra-low temperatures for storage or transportation. It is also significantly cheaper, closer to $3 to $4 dollars a shot. Due to its low cost, it is a boon to emerging countries. The most important part of this vaccine is that it can be manufactured in large quantities in several countries, including in India.
India is one of the primary drivers for global oil demand.
GREAT NEWS: Cheaper Covid-19 vaccine approved
GREAT NEWS: Cheaper Covid-19 vaccine approved
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group