OPEC chief ‘cautiously optimistic’ oil market will recover in 2021

20/01/2021 Argaam

Mohammad Barkindo, Secretary-General of OPEC 

OPEC Secretary-General Mohammad Barkindo said that he is “cautiously optimistic” the oil market will recover this year from a demand slump due to the coronavirus pandemic.

 

“We all agree that the recovery is fragile, there are still more uncertainties, but we are cautiously optimistic that the recovery will materialize this year,” he said at the Atlantic Council Global Energy Forum.

 

Earlier this month, oil prices surged to their highest level in 11 months followed the decision of OPEC+ alliance to keep the production steady in February and Saudi Arabia’s pledge to reduce supplies voluntarily.

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