Kuwait's Oil Minister Expects Oil Demand Recovery In Next Few Months

Kuwait's Oil Minister Expects Oil Demand Recovery in Next Few Months

MOSCOW (UrduPoint News / Sputnik - 12th August, 2019) Kuwaiti Minister of Oil Khalid Al Fadel said in a statement published Monday that he was expecting global oil demand to recover in the next few months.

"The performance indicators of international oil markets are still stable, global oil demand should recover within a few months, despite the recent decline in oil prices," Al Fadel said as quoted in a statement released by the Kuwaiti Oil Ministry.

The minister added that new refineries would start work in Asia and the middle East by the last quarter of the year, which would boost the demand.

Al Fadel remarked that oil markets remained committed to the agreement on oil production freeze.

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