OPEC sees the oil market’s outlook as positive in general and the uncertainty that dominated last year is easing, the group’s secretary general said.
“This is a major turnaround from a year ago,” Mohammad Barkindo was quoted as saying on Twitter on Tuesday.
He added that positive global economic developments and resilient demand in Asia were encouraging.
For all the latest headlines follow our Google News channel online or via the app.
Barkindo spoke ahead of joint technical committee (JTC) meeting for the Organization of the Petroleum Exporting Countries and its allies led by Russia, a group known as OPEC+.
The JTC reviews oil market supply and demand balances aswell as compliance of members of the alliance with the agreed cuts.
“It looks good and healthy,” an OPEC delegate said, referring to the latest supply and demand balance for 2021.
“But there are still some thoughts to be cautious,” he added.
Read more:
Saudi Aramco chief expects global oil demand recovery during second half of 2021
UAE’s ADNOC to ease crude oil supply cuts in April to Asian buyers, say sources
Oil prices slip on fears over higher supply from OPEC+, slowing demand from China
-
Saudi Aramco chief expects global oil demand recovery during second half of 2021
-
UAE’s ADNOC to ease crude oil supply cuts in April to Asian buyers, say sources
-
Oil prices slip on fears over higher supply from OPEC+, slowing demand from China
-
Oil executives expect crude demand to climb while renewables attract attention
-
Iraq’s oil exports touch 2.96 mln bpd in February, says ministry
-
Iraq decides not to go ahead with $2 bln China crude-supply deal, says Oil Minister
-
Iraq decides to freeze oil prepayments deal as oil prices rising