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Monday, 8 August 2016

Opec president reassures oil market with optimism on second-half price recovery | The National

Opec president reassures oil market with optimism on second-half price recovery | The National:

"Opec’s president said on Monday that he expects oil prices to improve as demand picks up in the second half of this year.

In a rare move aimed at reassuring the market, the oil group’s current president, Qatar’s energy minister Mohammed Al Sada, released a letter through Opec, in which he noted that "higher oil demand is expected in the third and fourth quarters ... in preparation for the approaching winter season in the northern hemisphere".


Mr Al Sada was seeking to reassure those worried about the recent drop in oil prices after a strong recovery in the first half."



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