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OPEC + Committee: Uncertainty may affect the recovery in oil demand
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OPEC +, on Wednesday, raised concerns that uncertainty may affect the recovery of oil demand due to the rise in the number of virus infections worldwide and lockdown measures, according to a report from the group's expert committee meeting.
"Despite the continued disposal of OECD trade inventories, they remain above the 2015-2019 average, recognizing that fluctuations in the market structure are an indication of fragile market conditions," the committee said in the report.
The expert committee, known as the Joint Technical Committee, met on Tuesday before a ministerial meeting on Thursday to decide on oil production policy. Producers are withholding millions of barrels from daily supplies to support the market.
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