Maersk CEO warns of downside risk to oil prices amid OPEC+ output rise
There is a high risk of oil prices falling because of a small increase in demand and higher OPEC+ production, an executive of shipping firm Maersk told the APPEC conference in Singapore on Tuesday.
“I think there’s a high risk to the downside for sure when it comes to kind of overall global balances,” said Emma Mazhari, CEO of oil trading for Maersk, pointing to a Sunday announcement from OPEC+ that it would raise production further from October and weak oil demand growth.
