OREANDA-NEWS.The Russian Ministry of Energy expects oil prices to recover after a collapse in a few months. This was announced in an interview with the Russian television channel by the Minister of Energy of the Russian Federation Alexander Novak. “With regard to the restoration of quotations, I think it will take several months”, Novak said.

According to the minister, the restoration of quotations will depend on a number of factors. “It seems to me that, first of all, it's necessary to assess the development of the situation associated with the measures that countries are taking to not proliferate coronavirus and to protect themselves from the epidemic. This affects demand and consumption.

And in many respects it will depend on how the economy will recover as a result of leveling the situation in this direction", said the head of the Ministry of Energy.In addition, the second factor that will affect the market will be an additional increase in demand for oil and oil products in a period of low prices.