OPEC demand outlook sees oil stocks falling in 2021: sources
Tweet
Share
E-mail
FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration
LONDON (Reuters) - OPEC expects oil inventories to drop by about 400 million barrels in 2021 in the latest supply and demand outlook being reviewed by a technical meeting on Tuesday, two OPEC+ sources said.
The figure, similar to the implied 2021 stock draw of 406 million barrels seen a month ago by OPEC, is part of what one of the OPEC sources called a "healthy" supply and demand balance for 2021.
OPEC+ experts, the Joint Technical Committee, are meeting on Tuesday ahead of a ministerial meeting on Thursday to decide oil output policy.
(Reporting by Alex Lawler; Editing by David Goodman)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Shein shares slip more than 3% on second day of Hong Kong trading
- Russia, US see grounds for financial ties, Russian finance minister says
- The history of financing America, in six crisis episodes
Create E-mail Alert Related Categories
ReutersRelated Entities
Oil Inventories, OPECSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
