An executive from shipping company Maersk said that there is a very high risk that oil prices will fall due to a slight increase in demand, and an increased OPEC+ output. This was his message at the APPEC Conference in Singapore.

Emma Mazhari said that the risk of a global imbalance going to the worse is high. She cited OPEC+'s announcement on Sunday to increase production from October, and the weak growth in oil demand.

Mazhari told the conference that she also expects bunker fuel to be significantly more abundant after 2030. Reporting by Florence Tan, Editing by Jacqueline Wong, and Tom Hogue

(source: Reuters)