4/27, 3:44 PM (Source: TeleTrader)
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Barkindo: H2 2021 oil demand outlook improving

Organization of the Petroleum Exporting Countries (OPEC) Secretary-General Mohammed Barkindo (pictured) said on Tuesday that the global "oil market continues to reap the benefits" of the cooperation between OPEC and its allies (OPEC+).

Speaking at the 29th Meeting of the Joint Ministerial Monitoring Committee (JMMC), he noted that the oil demand is expected to improve in the second half of 2021, mostly due to "positive trajectory of the global economy, coupled with stimulus measures, progress on vaccinations and the summer travel season."

"But at the same time, the persistence of COVID-19 reminds us that this no time to stray from the cautious and steadfast approach we have taken over the past year," he warned.

Breaking the News / MS