OPEC Chief Sees More Upbeat Outlook With China Reopening

(Bloomberg) ― OPEC’s top official said he sees a “more upbeat” economic outlook as China reopens after several years of virus restrictions.

“There’s a positive mood and optimism, which I must always say is cautious optimism,” Secretary-General Haitham Al-Ghais said Monday at the India Energy Week forum.

While there’s a lot of potential for oil demand this year, the “beast” of Covid-19 means there’s also the risk of volatility, Al-Ghais cautioned. Ministers from the OPEC+ coalition are just “a phone call away to step in when necessary,” he said.