MOSCOW (Pakistan Point News / Sputnik - 15th July, 2020) The oil market is returning to its normal state and looking stable, Russian Energy Minister Alexander Novak said Wednesday.
"We can see the market and the demand restoring. While in April, the decrease in demand was about 25 million barrels per day in general across the world, today the restoration has generally taken place, and in June we saw the decrease of about 10 million barrels," Novak said during a press conference after an OPEC+ meeting.
The minister remarked that OPEC+ made the right decision three months ago.
"Considering the output reduction by OPEC+ countries and the ones that did not coordinate with us, the market is currently well-balanced and quite stable," Novak said.
