December 28th, 2020

The terms of the OPEC+ production pact could be revised if oil demand recovers this year faster than currently expected, Russian Deputy Prime Minister Alexander Novak, who is still in charge of coordinating Russia’s oil policy with OPEC, told Rossiya TV news channel in an interview on Monday.

The vaccine rollout is helping global oil demand to recover, and consumption could return to pre-crisis levels during 2021, Novak said.

Source: By Tsvetana Paraskova for OilPrice dot com