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OPEC+ Technical Committee did not discuss geopolitics’ impact on oil market — source

According to the base scenario of market development in 2022, OPEC+ expects that the restrictions associated with COVID-19 will only be softened, and there will be no new ones at all

MOSCOW, March 1. /TASS/. The experts of the OPEC+ Technical Committee, whose meeting is held on Tuesday via videoconference, did not assess the impact of the conflict in Ukraine on the oil market, they discussed only fundamental factors, a source in one of the delegations told TASS.

"No geopolitics. Only fundamental factors," the source said.

In particular, according to the base scenario of market development in 2022, OPEC+ expects that the restrictions associated with COVID-19 will only be softened, and there will be no new ones at all. For this reason, the demand for gasoline and diesel will reach pre-crisis levels.

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