Emergence Of 3rd COVID-19 Vaccine In Russia May Help Balance Oil Market - Novak

MOSCOW (UrduPoint News / Sputnik - 20th October, 2020) The emergence of the third vaccine against COVID-19 in Russia may contribute, among other things, to balancing oil markets, Russian Energy Minister Alexander Novak said on Monday.

"An important role will be played by the emergence of vaccines that can mitigate and, in fact, prevent the already dramatic growth of COVID. And in this regard, a very positive signal for the market was on October 14, when it was announced that Russia had a second vaccine. Today, we at the [OPEC+] monitoring committee talked about this, I told our colleagues and even a response was voiced by the energy ministers, a positive assessment that could have a positive effect on this market," Novak told the Rossiya 24 broadcaster.

"Therefore, we hope that the appearance of the third vaccine, which we are also waiting for in Russia, will help in general, including in balancing the oil markets, because in any case this is a recovery in demand, a restoration of mobility � when fewer people get sick, when fewer quarantine measures are taken," he said.