Alexander Novak: Oil Demand Will Reach Pre-Pandemic Levels by the End of Summer 2022
Moscow. Russian Deputy Prime Minister Alexander Novak has named the time frame when the demand for oil will recover to the pre-pandemic level. This should happen by the end of the summer of 2022.
He said that Russia expects that at the OPEC + meeting, which will be held on November 4, the member countries of the organization will increase daily oil production by 400 thousand barrels, as previously agreed. However, he found it difficult to answer the question of whether prices for “black gold” will reach a record level, as happened with gas prices, or not.
“Demand may decrease as there is still uncertainty. We also see that another wave of the pandemic is spreading around the world, “Lenta.ru quotes Novak.
Earlier, Russian President Vladimir Putin warned about the depletion of oil. According to him, when the demand of the world market for it grows, there will simply be nowhere to get oil.
