Russian Oil Sector Believes Market Situation To Degrade In Coming Weeks - Energy Minister

Faizan Hashmi Published April 02, 2020 | 07:06 PM

Russian Energy Minister Alexander Novak said on Thursday he had discussed with representatives of the country's oil sector the market situation, adding that everyone believes that the situation will be deteriorating further in the coming weeks

MOSCOW (UrduPoint News / Sputnik - 02nd April, 2020) Russian Energy Minister Alexander Novak said on Thursday he had discussed with representatives of the country's oil sector the market situation, adding that everyone believes that the situation will be deteriorating further in the coming weeks.

"We certainly maintain contact with our companies, we monitor the situation every two days with our companies.

Just yesterday, I communicated through a videoconference ... with heads of all the oil and gas companies. We discussed the situation in the global market and in the domestic market, and we have practically the same assessments, we believe that the market situation will keep deteriorating in the next few weeks, demand will continue decreasing," Novak said on Thursday, as aired by the Ekho Moskvy radio station.