- Dec 4, 2020 9:24 am GMT
Yesterday, the 180th OPEC Conference & 12th OPEC and Non-OPEC Ministerial Meeting took place, and OPEC has agreed to gradually increase output during 2021.
With the pandemic having an effect on demand and the world turning towards carbon neutrality by 2050, there will need to be a dramatic reduction in the use of fossil fuels. OPEC is aware of this and has revised its oil demand forecasts downwards although it still remains confident in the market ahead.
You can read the full recap of the day's events, written by John Hall, by clicking on the link below.