“It is anticipated increased oil demand in the third and fourth quarters,” said Minister of Energy and Industry of Qatar, the current leader of OPEC, Mohammad Bin Saleh Al Sada, in a statement, adding that “the market ‘black gold’ is on its way to rebalance. “
crude prices have registered a sustained improvement since February this year, fueled by” a drop in production, cuts in supplies and reduction of stored reserves, as global demand improved during this period, “the president of OPEC.
” Al Sada said that the recent decline in oil prices and the volatility of the market are only temporary “, according to the note.
the OPEC also ensured that it continues to monitor developments and maintain contacts with all member states on ways to help restore stability and order in the oil market.
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