Global economic and oil demand recovery is still anemic, OPEC Secretary General Mohammad Barkindo said on Monday, but noted that the cartel doesn’t see another plunge in demand like in the second quarter. “We do not expect a relapse to the massive contraction that we saw in the second quarter,” Barkindo said at the virtual 2020 India Energy Forum by CERAWeek on Monday. “We remain cautiously optimistic that the recovery will continue. It may take longer, maybe at lower levels, but we are determined to stay the course,” OPEC’s chief said. The market is increasingly concerned about the pace of demand recovery as the second coronavirus wave is sweeping through the U.S. and Europe. Additional supply out of Libya and the OPEC+ plan to ease the cuts by another 2 million barrels per day (bpd) as of January 2021 have put more pressure on oil prices in recent weeks. […]