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Russia s Novak: OPEC+ deal could be adjusted if oil market recovers quicker than expectedNEWS |
12/28/2020 11:51:07 AM GMT | By Eren Sengezer
Russian Energy Minister Alexander Novak said on Monday that uncertainties on global oil markets still remain, as reported by Reuters.
Additional takeaways Global oil demand is still below 6-7 million barrels per day (bpd) pre-crisis level. Expecting 5-6 million bpd of oil in additional demand next year. OPEC+ deal could be adjusted if the oil market recovers quicker than expected.
Market reaction
Crude oil prices showed no immediate reaction to these remarks. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $48.65, gaining 0.75% on a daily basis.
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