The growing discrepancy between oil supply and demand on global energy markets can result in a new supercycle, Russia's Rosneft CEO, Igor Sechin, warned
MOSCOW (Pakistan Point News / Sputnik - 12th November, 2021) The growing discrepancy between oil supply and demand on global energy markets can result in a new supercycle, Russia's Rosneft CEO, Igor Sechin, warned.
"Despite the uncertainty in the global economy due to the difficult epidemiological situation, we observe a rapid growth in demand for traditional energy resources. As structural discrepancies between supply and demand on global energy markets are further revealed, we may witness a new super cycle on the oil and gas markets," Sechin said, as quoted in a Rosneft statement on Friday.
Supercycle is a period of structural excess of demand over supply, which persists for a long time and leads to surging prices.
