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

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FILE PHOTO: A 3D-printed oil pump jack is seen in front of a displayed OPEC logo in this illustration picture

MOSCOW (Reuters) – 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.

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”.

(Reporting by Vladimir Soldatkin; writing by Tom Balmforth; editing by David Goodman and Jason Neely)

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