World Oil Market Is Stable: Russia's Deputy PM
TEHRAN (Tasnim) – The oil market in the world is currently balanced thanks to the efforts of OPEC+ countries and this year witnesses a record-high incremental growth of oil demand supported by suitable supplies, Russia's deputy prime minister said.
Speaking in an interview with Rossiya-24 TV Channel on Wednesday, Alexander Novak said, "Such joint efforts (of OPEC+ countries) resulted in the market being balanced."
He added, "We see the demand at present is rather high during the summer and fall period; it is supported by the required offer. By the way, the record-high increase in oil demand is observed this year across the globe in general - 102.4 mln barrels daily, with incremental growth of 2.4 mln barrels (per day). This is very sound; it was about one million barrels per day before."
Earlier, he had pointed out that Russia made the decision to continue the reduction of oil supplies to global markets by 300,000 barrels per day in order to maintain the stability and the balance of oil markets.