TELETRADER News
1/17, 10:50 PM (Source: TeleTrader)
more TeleTrader news

Barkindo: Oil demand has 'upside potential'

Global oil demand may surprise in 2020 as it has "upside potential" and it maintained its "robust" growth, despite the lower demand forecasts compared to previous years, the Organization of the Petroleum Exporting Countries' (OPEC) Secretary-General Mohammed Barkindo told CNBC on Friday.

"By and large what we see from our side is an upside potential of growth from the demand side of the equation, which will affect the total balance for the rest of the year," Barkindo stressed, adding that the output cut decision OPEC members made "was to ensure that there’s no imbalance" in the first two quarters of 2020.

Breaking the News / GA