As countries across the globe continue easing lockdown restrictions related to the COVID-19 pandemic, OPEC Secretary-General Mohammad Barkindo expressed hope that recovery of the energy industry will be in full swing later this year.

“We are cautiously optimistic that the worst is over, even though the fragilities and the uncertainties with regards to recovery, whether it is a U-shaped, V-shaped or inverted hockey stick, are still uncertain,” Barkindo said during a recent energy dialogue organized by Abu Dhabi International Petroleum Exhibition and Conference.

“Nevertheless, I am hopeful by the end of this year we will begin to see some further semblance of stability restored to oil markets,” he continued. “Then we will be in a position to move into the next phase of sustaining that stability.”

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