Shafaq News / Energy expert Furat Al-Mousawi expected, on Sunday, that the price of oil barrel would reach $ 60 in the coming months.

Al-Moussawi told Shafaq News agency that, "the recovery of economic life to most countries will contribute to increasing demand for energy and the price of a barrel of oil will reach 60 dollars in the coming months", noting that, "the first stage of the agreement to reduce production will end in July. This stage began early Last May with a reduction of 9.7 billion barrels a day".

He added that, "the second stage begins by early August, by reducing the size of the reduction to 7.7 million barrels a day and continues until the end of 2020", noting that, "the third stage begins early in 2021 until April of the same year, with a total reduction of 6 million barrels".

Mousawi explained, "It is expected that global demand will recover by 7 million barrels a day in 2021, after falling by nine million barrels this year. April will witness the recovery of oil prices to about $ 43 a barrel from the lowest level in the last 21 years, at less than $ 16 a barrel in a month", adding that, "The actual increase in production from August may be less than two million barrels per day, given that Iraq and Nigeria pledged to compensate for the high production level in May with larger reductions than they pledged in June".