OPEC Secretary-General Mohammad Barkindo crossed the wires in the last minutes arguing that they have been very conservative with the demand forecasts. “The OPEC+ charter is open to all producing countries,” Barkindo added, per Reuters.
Crude oil prices seem to be gaining traction on Barkindo’s comments about the demand outlook. As of writing, the barrel of West Texas Intermediate was trading at its highest level since mid-July at $58.60, adding 1% on a daily basis. Similarly, the barrel of Brent was up 1.1% on the day at $63.35.
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