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Russia's Novak expects full global oil demand recovery by second quarter next year

Published 09/17/2020, 01:01 PM
Updated 09/17/2020, 01:05 PM
© Reuters. FILE PHOTO: Russian Energy Minister Alexander Novak at the St. Petersburg International Economic Forum

MOSCOW (Reuters) - Russian Energy Minister Alexander Novak expects global oil demand to recover fully in the second quarter of 2021, he said on Thursday.

© Reuters. FILE PHOTO: Russian Energy Minister Alexander Novak at the St. Petersburg International Economic Forum

Novak also said that the global oil demand recovery has slowed and that leading oil producers, a group known as OPEC+, should restore output gradually in line with the demand recovery so not to overheat the market.

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