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3/1/2021, 8:09 PM (Source: TeleTrader)
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Energy sector seen recovering by 2022 - Baker Hughes CEO

The global energy sector is expected to recoup from the coronavirus pandemic in 2022, Baker Hughes CEO Lorenzo Simonelli stated on Monday.

"As you look at the supply and demand equation, we're seeing that there will be a recovery in 2021 with an even more balanced market going into 2022," the executive said, noting that hydrocarbons will be "essential for providing energy to the world, especially in the near term."

Brent for May deliveries dropped 1.45%, selling for $61.50 per barrel at 7:54 pm CET, while West Texas Intermediate (WTI) for settlements in April gained 1.06% to go for $64.42 per barrel at 7:55 pm CET.

Baha Breaking News (BBN) / MD