DUBAI, March 31 (Reuters) - Kuwait’s Oil Minister Oil Mohammad Abdulatif al-Fares expressed “cautious optimism” on Wednesday that the global oil demand will improve as COVID-19 vaccination programs gather pace and industrial output recovers.
Speaking ahead of a joint meeting of the Organization of Petroleum Exporting Countries and other major oil producers, he said the market supply/demand balance has largely improved as result of output cuts implemented by the group known as OPEC+, according to state news agency KUNA.
He called on the group to the fully comply with these cuts.
Reporting by Maher Chmaytelli, editing by Louise Heavens
Our Standards: The Thomson Reuters Trust Principles.