(Read the full article on turan.az)

The OPEC + Technical Committee considered two scenarios for the development of the situation in the oil market, TURAN reported.

One of them, the OPEC base report, suggesting an increase in oil demand in 2021 by 5.95 million bpd; the other is conservative – growth in demand by 500 thousand bpd less, a source familiar with the results of the meeting told Interfax.

Both scenarios assume a market deficit of about 1.5 million bpd and 0.8 million bpd, respectively.

No recommendations were issued following the meeting. He noted that possible options for production levels have not been discussed since August.