OPEC Secretary General: Corona’s uncertainty continues to affect the oil market

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OPEC Secretary-General Muhammad Barkindo told reporters on the sidelines of an energy forum in Moscow today, Thursday, that the uncertainty regarding the Covid-19 pandemic continues to affect the oil market.

The Organization of the Petroleum Exporting Countries (OPEC) lowered its forecast for global oil demand in 2021 and kept its forecast for next year, according to its monthly report, on Wednesday.

However, she said, the increase in natural gas prices may support the demand for oil products as the end user shifts towards them.

OPEC now expects oil demand to grow by 5.82 million barrels per day, down from 5.96 million barrels per day in its previous forecast, saying that the downward revision came for the most important reasons, the data of the first three quarters of the year.

The organization maintained its forecast for demand growth of 4.2 million barrels per day next year.

The article, Secretary General of OPEC: Corona’s uncertainty continues to affect the oil market, was written in Al Borsa newspaper.