Russian Deputy Prime Minister Alexander Novak called the deadline when the demand for oil will recover before the dapendium level. In his opinion, this should happen by the end of the summer of 2022, reports Reuters.
He stated that Russia expects at the meeting of OPEC +, which will be held on November 4, the organization participating countries will increase the daily oil production by 400 thousand barrels, as agreed earlier. However, he found it difficult to answer the question of whether the price of the “black gold” of a record level was reached, as it happened with gas prices, or not.
“Demand may decrease because the uncertainty is still preserved. We also see that another Pandemic wave is distributed,” Novak said.
Earlier, Russian President Vladimir Putin warned about the exhaustion of oil. According to him, when the demand of the world market will grow on it, oil will be simply nowhere to take.
also it became known that the prices of WTI oil oil set a record, exceeding $ 85 per barrel for the first time since October 2014. At 16:05 Moscow time on Monday, October 25, December WTI futures on the ICE exchange traded at 85.03 dollars (plus 1.52 percent compared with the closure of the previous trading session). Brent Oil at 16:05 increased to 85.56 dollars (plus 1.12 percent).