Reuters reports that OPEC Secretary General Mohammad Barkindo said that the oil market continues to face uncertainties stemming from the COVID-19 pandemic. 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".
"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 said.