Novak hopes for oil demand growth in 2021

Novak hopes for oil demand growth in 2021
  • Clock-gray 10:05
  • calendar-gray 05 January 2021

Russian Deputy Prime Minister Alexander Novak expressed hope that in 2021 the demand for oil will recover. He announced this during a meeting of the Organization of Petroleum Exporting Countries and Non-member States (OPEC +), at which it is planned to make a decision on the level of production for February, APA reports citing Russian media.

Earlier, the OPEC + committee did not give any recommendations on this issue.

“We hope that in 2021 we will still see a recovery in demand, including as a result of vaccination of the population, which is already taking place in many countries,” said Mr. Novak.

“And, of course, we hope that we will gradually be with you, using different mechanisms, instruments that have already proven themselves, to make the right decisions aimed at stabilizing the market and restoring production,” the Russian Deputy Prime Minister said.

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