OPEC: new secretary general says demand to reach pre-Covid pandemic levels by year's end

The secretary general-elect of the Organization of the Petroleum Exporting Countries (OPEC) said on Monday that global oil demand should return to its pre-pandemic levels by the end of 2022, the Al-Arabiya news channel reported.

Haitham Al-Ghais, a former Kuwaiti governor to OPEC, also told the Saudi-owned TV channel that the OPEC+ alliance - which gathers OPEC and other crude producers - was important for the stability and balance of oil markets.

OPEC on Monday agreed to appoint Al-Ghais as its new secretary general, to succeed Nigeria's Mohammad Barkindo. He will take over the role on 1 August.

(Reuters)