Open Demo Account
Home / Market Update / Commodities / Reuters: The OPEC+ Joint Technical Committee Says The Uncertainty May Affect The Recovery in Oil Demand

Reuters: The OPEC+ Joint Technical Committee Says The Uncertainty May Affect The Recovery in Oil Demand

Adel 31 March, 2021 12:38 pm Commodities, Market Update

A report from the OPEC+ Joint Technical Committee reviewed by Reuters revealed concerns that uncertainty may affect the recovery of oil demand amid increasing global coronavirus infections and lockdown measures.

The committee added in the report that despite the ongoing elimination of OECD commercial stocks, still above the 2015-2019 average, fluctuations in the oil market structure are “an indication of fragile market conditions.”

In the report, the committee indicated that a cautious and vigilant approach is needed to continuously monitor the oil market due to the fluctuations in recent weeks.

On the other hand, the OPEC+ Joint Technical Committee said in the report that its next meeting will be on April 26.

Tags

Check Also

European Markets Show Mixed Performance Amid Chinese Stimulus Hopes and Trump’s Davos Speech Anticipation

European stock markets displayed a mixed performance on Thursday, as investors weighed the impact of …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends