Oil Market Still Faces Uncertainties Due to COVID-19, OPEC Chief Says

By Reuters
Reuters
Reuters
October 14, 2021 Updated: October 14, 2021

MOSCOW—The oil market continues to face uncertainties stemming from the COVID-19 pandemic, OPEC Secretary General Mohammad Barkindo told reporters on the sidelines of an energy forum 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 said.

Mohammad-Barkindo
OPEC Secretary General Mohammad Barkindo attends a session of Kazakhstan Energy Week in Nur-Sultan, Kazakstan on Sept. 26, 2019. (Mariya Gordeyeva/Reuters)

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”.

Reuters
Reuters