Oil demand recovery expected to pick up speed later this year

The recovery in global oil demand will accelerate in the second half of this year as the market continues to rebalance after the turmoil brought by the pandemic, according to OPEC and the International Energy Agency.

Despite increasing its estimates for oil output in 2021, the IEA said in its monthly market report that a recovery in demand would outstrip production in the second half of the year, prompting “a rapid stock draw” of the glut of crude that has built up since the pandemic began.

Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.

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