© Reuters. OPEC Secretary General: Cautiously optimistic about the global economy
Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), stated that he is cautiously optimistic about the global economy, because the recovery in oil demand in China eases signs of fragility elsewhere.
Al-Ghais said in an interview with “Bloomberg” during the World Economic Forum in Davos today, Tuesday: We see positive signs with Beijing ending the closures related to the “Covid-19” virus. We are optimistic, but with caution.
Al-Ghais added that the alliance is ready to do whatever it takes to maintain market balance this year.
He indicated that a committee of key “OPEC +” ministers will hold a monitoring meeting to assess market conditions on February 1, but it is too early to determine what they might decide.
He explained that it is too early to say whether OPEC + needs to respond to potential supply losses from Russia, which is under international pressure on its oil exports in the wake of the invasion of Ukraine.
