The decrease in global oil demand amid the current coronavirus pandemic is estimated at 15-20 million barrels per day, Russian Deputy Minister of Energy Pavel Sorokin told RBC broadcaster
MOSCOW (Pakistan Point News / Sputnik - 27th March, 2020) The decrease in global oil demand amid the current coronavirus pandemic is estimated at 15-20 million barrels per day, Russian Deputy Minister of Energy Pavel Sorokin told RBC broadcaster.
"In our oil sector, the demand decline is at about 15-20 million [barrels daily], at the moment," the deputy minister said, adding that there will be a significant rebound once the quarantine restrictions are lifted.
Soroking reportedly said that Russia can manage with oil at $25 per barrel for six-twelve months, but if the low prices persist for two-three years, it may create big problems.
