Russian Minister of Energy Allowed a Further Drop in Oil Demand in the World
OREANDA-NEWS. Alexander Novak, the head of the Ministry of Energy of the Russian Federation, considers that a reduction in world oil consumption may continue in the nearest future.
“If quarantine measures continue for some time, and they will certainly continue, the reduction in oil consumption in the world will go on, and we can get a reduction of demand to 20 million barrels per day in the next few weeks,” Novak said in the interview on the radio station Echo of Moscow.
The politician also mentioned that Russia and the United States agreed to work together to stabilize the oil market. According to him, the two countries have the same assessments of the situation.
Earlier, Novak held telephone talks with US Secretary of Energy Dan Brouillette. The ministers discussed changes in the energy market. Brouillette called the conversation productive.