“We forecast world oil demand to rise by 6.0 mb/d. Both the economy and oil demand are expected to see accelerated growth in the second half of this year. There is, however, a range of uncertainties that we are monitoring closely. These include an elevated risk of inflation due to massive financial stimulus programmes, uneven vaccine rollouts across the world and the COVID-19 Delta variant, which is now even impacting countries with high vaccination rates," OPEC Secretary-General, Dr Mohammad Barkindo, gave the commendation at the ongoing 20th Nigeria Oil and Gas Conference (NOG) in Abuja, on Tuesday, APA-Economics reports citing The Guardian.
"This challenging backdrop will require the Declaration of Cooperation (DoC) producers to remain proactive, flexible and vigilant,” he said.