Oil demand gradually returning to pre-COVID levels - Barkindo - Breaking The News

Oil demand gradually returning to pre-COVID levels - Barkindo

25 November

1 min read

EPA-EFE/ALI HAIDER

Organization of the Petroleum Exporting Countries (OPEC) Secretary-General Mohammad Barkindo (pictured) stressed on Wednesday that global crude demand is gradually bouncing back to pre-pandemic levels, adding there is a bright future ahead of energy markets after the coronavirus pandemic.

"We see a gradual return to pre-COVID oil demand levels, followed by strong demand growth in the middle of the decade before it gradually decelerates," Barkindo said at the OPEC's meeting via videoconference.

According to the cartel's head, the OPEC's oil output cuts largely contributed to market rebalancing efforts and are directly linked to market stability amid the COVID-19-caused crisis.

opec oil oil demand barkindo

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