Gazprom Neft expects oil demand to recover in H2 of 2021

Global oil demand is set to return to pre-crisis levels in the second quarter of 2021, Gazprom Neft Chief Executive Officer Alexander Dyukov (pictured) claimed on Wednesday.

"We see a slowdown in demand recovery. Of course, the main reason is that the pandemic has not gone anywhere yet. Many countries either expect or have already faced a second wave," Dyukov asserted in his speech at the Tyumen Oil and Gas Forum.

According to him, Gazprom Neft will resume its oil output following a reduction under the OPEC+ deal without significant losses, but the cuts may affect future investments.

Baha Breaking News (BBN) / GA