The global oil market is rebalancing after damage to demand wrought by the Covid-19 pandemic was met with curbs on output by producers from the Organization of the Petroleum Exporting Countries (Opec), the group’s president said yesterday. “Crude prices are relatively stable...we see a certain balance between demand and supply,” Opec president Diamantino Azevedo told Reuters in an interview. “However, due to the pandemic situation the world is living through and with new waves arriving, we could have a situation of smaller demand due to confinements. Vaccination of the global population against Covid-19 will certainly increase demand”. Opec and other key exporters such as Russia, a grouping
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