Baker Hughes is ‘cautiously optimistic’ on oil demand


Oil services firm Baker Hughes sees energy demand recovering in the second half of 2021, chief executive Lorenzo Simonelli said this week.

“We are cautiously optimistic,” he told CNBC’s Steve Sedgwick on Monday.

He noted that some countries are still in coronavirus-related lockdowns, which decimated demand in 2020 and can weigh on fuel sales in the first part of the year.

However, he expects demand to start recovering in the second half of the year, due to the vaccine rollout and improving economic situation.

The chief executive’s views were in line with OPEC’s January report on the oil market, which said vaccinations provide some “upside optimism,” and that its 2021 forecasts “assume a…


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