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OPEC sees positive oil market outlook, continued downside risks

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OPEC sees a generally positive oil market outlook with last year’s uncertainty easing, but downside risks caused by the pandemic persist, the group’s secretary-general and its experts said on Tuesday.

Axar.az reports that this was reported by foreign media.

“We have come a long way from a year ago,” OPEC chief Mohammad Barkindo said. “The days of GDP and oil demand figures being in the red because of the pandemic-induced shock appear to be behind us.”

Barkindo was speaking before Tuesday’s meeting of the Joint Technical Committee (JTC), which reviews the oil market for the Organization of the Petroleum Exporting Countries, Russia, and other allies, a group known as OPEC+.

OPEC+ ministers hold a full meeting on Thursday.

Date
2021.03.03 / 20:54
Author
Axar.az
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