While speaking at the 14th Ministerial Meeting of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members, the Minister of Energy of Saudi Arabia, the Prince Abdulaziz bin Salman, noted that the oil market has continued to improve, but warned that the uncertainty surrounding the recovery has not diminished, as reported by Reuters.
Reflecting the same sentiment, the Russian Deputy Prime Minister, Alexander Novak, said that the oil market has not yet fully recovered He added that the key problem is the uncertainty about the coronavirus.
“We have to evaluate the oil and demand forecasts,” Novak said. He added that they have to stick to the agreements.
The price of Petroleum it’s going up on Thursday. WTI is trading above $ 62.50, up more than 2% on the day.