In Russia there will be no shortage of fuel at any development of the situation, said Russian energy Minister Alexander Novak in a column for the magazine “Energy policy”. However, he noted that measures to combat COVID-19 affected the domestic petroleum market. He also does not expect a quick growth of oil prices.”In the future, to prevent a disproportionate reduction in supply in the oil market, the Ministry of energy in real time to monitor the situation with the presence of necessary stocks of fuel in all regions of the country. In any situation, we guarantee that the deficit will not be,” wrote Mr. Novak.Energy at the same time expects that the situation on the energy market gradually stabiliziruemost after the transaction OPEC++. In many respects the result will depend on the situation in the global economy. “However, in the near future significant increase in the cost of a barrel should not be expected due to the current oversupply of the market”,— said Alexander Novak. In his opinion, market stabilization could begin in the second half of 2020, when demand recovers oil.We will remind, the OPEC countries+ April 12, agreed to the largest ever reduction of oil production. The deal will come into force on 1 may. Despite the agreements reached, oil prices continued to fall. Us WTI crude oil for the first time in history fell to negative values. According to analysts ‘ estimates Argus, the income of Russian oil companies in 2020 could fall to $18-20 billion Details — in the material “Kommersant” “Oil with a low amount of money.”
Austin Weather Forecast
34.1 ° C
Latest News & Headlines
War has been raging in Ukraine since February 24. A timely solution is not in sight - especially not while Vladimir Putin remains at...