OPEC+ expects oil demand to fall
OPEC+ has revised its oil demand forecast for the current year. Secretary General
Cartel Secretary General Mohammed Barkindo at a meeting of the monitoring committee
Mohammed Barkindo, cartel's Secretary General, announced new figures - 5.6 mln b/d (as compared to the previous forecast of 5.9 mln b/d).
Barkindo announced the new figures - 5.6 mln b/d (for comparison, the previous forecast was 5.9 mln b/d).
Barkindo called the decrease negligible, but urged
Barkindo called for the alliance to remember that despite some
Barkindo said the downgrade was minor but urged members to remember that despite some encouraging signs, global economic and oil market conditions
oil markets continue to be volatile due to continued
coronavirus problems. This is a reminder of the heightened
market volatility seen in the past two
weeks, he noted.
The global GDP growth forecast at the monitoring committee meeting
was estimated at 5.1%, higher than the figures announced at the previous meeting
(4,8%). Even so, we should not let our guard down.
That outlook could also change, as the world situation
continue to be quite uncertain, the secretary general warned.