“The economic recovery and demand for oil remains anemic,” Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Barkindo said on Monday, Reuters reported.
Barkindo indicated that don’t expect a dramatic contraction like the second trimester. He added that the compliance level has averaged 100% and that they are determined to continue that adherence.
WTI barrel prices are falling more than 2% on Monday. WTI is trading at $ 38.70, extending Friday’s bearish move.
Credits: Forex Street