OPEC chief sees oil market moving closer to balance

"These supply and demand trends are helping bring us step by step closer to achieving a balanced market," OPEC's Mohammad Barkindo said during a webcast presentation.

  
OPEC Secretary General Mohammad Barkindo delivers his speech during the presentation of the World Oil Outlook in Vienna, Austria November 5, 2019.

OPEC Secretary General Mohammad Barkindo delivers his speech during the presentation of the World Oil Outlook in Vienna, Austria November 5, 2019.

REUTERS/Leonhard Foeger

LONDON- A gradual rise in oil demand as countries ease coronavirus lockdowns and record supply cuts by OPEC and its allies are bringing the oil market closer to balance, OPEC's secretary general said on Monday.

"These supply and demand trends are helping bring us step by step closer to achieving a balanced market," OPEC's Mohammad Barkindo said during a webcast presentation.

(Reporting by Alex Lawler and Rania El Gamal; Editing by Edmund Blair) ((edmund.blair@thomsonreuters.com; Reuters Messaging: edmund.blair.thomsonreuters.com@thomsonreuters.net))

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