Russia’s Energy Minister Sees Shortage In Oil Market Next Month

Russia’s Energy Minister Sees Shortage In Oil Market Next Month

OilPrice.com

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Russia’s Energy Minister Alexander Novak is predicting a shortage in the oil market next month, Ifax reported on Thursday. Novak said that the global oil markets could see a shortfall between three and five million barrels per day in July, depending on the outcome of the OPEC meeting that could be held yet this week. The meeting that will help shape the future of the oil market over the next few months is proving difficult, however, even though it would appear that Saudi Arabia and Russia have reached an agreement in principle to extend the…

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