Economic recovery linked to vaccine development

Speaking at the India Energy Forum by CERAWeek, the secretary general of the Organization of the Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo, stated that the demand recovery is not robust at the moment. However, he was confident the demand recovery is not robust at the moment that the demand recovery is not robust at the moment is not that far.

“In our outlook for 2020, the fundamentals look upwards and positive. The demand will continue to grow not only for energy well right up to 2045, we postulate that oil and gas will continue to dominate the energy basket,” Barkindo said. He added that hydrocarbons would dominate the energy basket & oil will constitute around 28% of this basket.

“Both economic growth as well as demand recovery remained anemic at the moment due to largely this virus. Now, we remain hopeful that the governments around the world have learnt the lesson from what transpired in the second quarter of this year (April-June 2020),” he stated further.