OPEC’s Secretary General is optimistic about the The future of the oil market and the global economy
The oil market is steadily improving, said OPEC Secretary General Mohammed Barkindo. This can also be said about global GDP, he said, pointing out that both this indicator and oil prices have now moved away from the negative values caused by the coronavirus pandemic. His message is quoted in the organization's official press release. Nevertheless, we should remain cautious and not forget about the risks to the market recovery and the global economy - uncertainty in the pandemic, Barkindo cautioned. In his view, vaccine distribution is not happening fast enough, which could hold back development in many developing countries. According to Barkindo, oil demand continues to grow by an average of 5.8 million barrels a day, its daily volume is about 96 million bpd. The market is supported, along with the positive outlook for the global economy, by stable demand in Asian countries.