Oil importing countries may announce oil purchases to support demand: IEA head

Oil importing countries may announce crude oil purchases to support demand for the fuel, International Energy Agency Executive Director Fatih Birol told al-Arabiya TV on Thursday.

”We may hear tomorrow countries purchasing crude to build up their strategic (reserves) and support demand,” he said, cited by al-Arabiya. We will see a recovery of demand in line with the resolution of this problem and the return of the global economy, but I don’t expect a very quick recovery of oil prices,” he added.

ET Energy World
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