OPEC's Barkindo: Outlook for global oil market continues to be positive
|During the 49th meeting of the Joint Technical Committee, OPEC Secretary-General Mohammad Barkindo noted that the global economic outlook and oil market prospects continue to show signs of improvement, as reported by Reuters.
"The headwinds of uncertainty that shocked the market last year continue to abate, this is a major turnaround from a year ago," Barkindo added and said positive global economic developments and resilient demand in Asia are encouraging.
Market reaction
Crude oil showed no immediate reaction to these comments and the barrel of West Texas Intermediate (WTI) was last seen trading at $60.65, rising 0.75% on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.