Oil market still faces uncertainties due to COVID-19, OPEC chief says By Reuters

Oil market still faces uncertainties due to COVID-19, OPEC chief says By Reuters


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© Reuters. FILE PHOTO: A 3D-printed oil pump jack is seen in entrance of a displayed OPEC emblem on this illustration image, April 14, 2020. REUTERS/Dado Ruvic/File Photo

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MOSCOW (Reuters) – The oil market continues to face uncertainties stemming from the COVID-19 pandemic, OPEC Secretary General Mohammad Barkindo instructed reporters on the sidelines of an vitality discussion board in Moscow on Thursday.

“The market is taking its course in accordance with supply and demand fundamentals. But we must admit there are external factors that are influencing the evolution of the market,” he mentioned.

Regarding how COVID-19 is creating uncertainty Barkindo pointed to “responses by the governments as the various variants, mutations emerge and how the world is able to upscale the vaccination rates in particular in developing countries”.

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