GDP losses are based on reality - job losses, porperty markets crashing, inflation. Oil price gains are based entirely on sentimental fiction. Hopes based on nothing that 'recovery' is likely. It's not. Hoping so may change things until reality catches up. This is the market grasping at straws and demonstrating how facile the market [thinks it] is.
"The market is factoring in a recovery in demand by the end of the year."