OPEC Sees Oil Rising To $40 In Second Half Of 2020

Oil prices are set to recover with the OPEC+ production cuts and gradual lifting of lockdowns around the world in the second half of 2020, when oil prices “will be $40 starting from the third quarter,” Mohamed Arkab, Energy Minister of OPEC’s rotating president Algeria, said on Sunday.   The global economy will not stay paralyzed for too long, and together with the 9.7 million bpd cuts that OPEC and its allies pledged for May and June, these factors are set to lift the price of oil in H2 2020, Arkab told Algeria’s…