Global demand currently is not supportive for OPEC+ easing the oil production cuts on January 2021, Ibrahim Al-Buainain, president and chief executive of Aramco Trading, told Gulf Intelligence on Wednesday. OPEC and its Russia-led partners will likely consider “a lot of demand issues” before tapering their cuts, he said in an interview with Gulf Intelligence. OPEC+’s decision will depend on how economies recover, including the U.S. economy from a potential stimulus, Al-Buainain added. The OPEC+ group is set to relax the current collective cut of 7.7 million barrels per day (bpd) to 5.8 million bpd beginning in January next year. However, the second COVID-19 wave in Europe and the United States is threatening economic and demand recovery and has increased market talk and speculation that OPEC+ may not and/or should not increase oil supply at the start of next year. Currently, the only bright spot in demand is China, […]