LONDON — Oil producer group OPEC on Thursday kept its 2021 forecast for global oil demand growth unchanged, but warned uncertainties over the impact of the coronavirus pandemic remain high.
The closely-watched oil market report comes as coronavirus cases continue to surge worldwide, with new lockdowns imposed in Europe and parts of China.
In recent weeks, optimism about the mass rollout of coronavirus vaccines appears to have been tempered by the resurgent rate of virus spread.
It has resulted in oil producers trying to orchestrate a delicate balancing act between supply and demand as factors including the pace of the pandemic response continue to cloud the outlook.
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