Oil market nonetheless faces uncertainties resulting from COVID-19, OPEC chief says

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MOSCOW, Oct 14 (Reuters) – The oil market continues to face uncertainties stemming from the COVID-19 pandemic, OPEC Secretary General Mohammad Barkindo advised reporters on the sidelines of an vitality discussion board in Moscow on Thursday.

“The market is taking its course in accordance with supply and demand fundamentals. But we must admit there are external factors that are influencing the evolution of the market,” he stated.

Regarding how COVID-19 is creating uncertainty Barkindo pointed to “responses by the governments as the various variants, mutations emerge and how the world is able to upscale the vaccination rates in particular in developing countries”.

Reporting by Vladimir Soldatkin; writing by Tom Balmforth; enhancing by David Goodman and Jason Neely

OPEC Secretary General Mohammad Barkindo attends a session of Kazakhstan Energy Week in Nur-Sultan, Kazakstan September 26, 2019. REUTERS/Mariya Gordeyeva//File Photo

A 3D-printed oil pump jack is seen in front of a displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File Photo

OPEC Secretary General Mohammad Barkindo attends a session of Kazakhstan Energy Week in Nur-Sultan, Kazakstan September 26, 2019. REUTERS/Mariya Gordeyeva//File Photo