The rise in COVID-19 cases is slowing the recovery in oil demand.
Continued high rates of COVID-19 worldwide are impairing the outlook for oil demand.
Traders are not very optimistic about the recovery in oil demand.
Benchmark oil prices declined on Friday despite expectations of new measures to support the US economy.
Since early December, oil prices went up by almost 6% due to investor optimism over the coronavirus vaccines onset.
Oil prices are rising amid the publication of data on a decrease in US stocks, strengthening investors' hopes for a recovery in demand.