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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 can be seen in front a displayed OPEC emblem in this illustration, April 14, 2020. REUTERS/Dado Ruvic/File Photo

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MOSCOW, (Reuters) – The uncertainty surrounding the COVID-19 pandemic continues to affect the oil market. This is what OPEC Secretary-General Mohammad Barkindo stated on Thursday at a Moscow energy forum.

The market follows supply-demand fundamentals. He said that there were external influences on the market’s evolution.

Barkindo spoke out about how COVID-19 creates uncertainty and what the government’s responses are to the different variants, mutations that emerge. He also discussed how the world can increase vaccination rates, especially in the developing countries.

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