03:38 GMT +313 November 2019
Listen Live
    Russian Minister of Energy Alexander Novak

    Russian Energy Ministry Notes Current 'Stable' Global Oil Market

    © Sputnik / Alexander Natruskin
    Get short URL
    0 40

    MOSCOW (Sputnik) - The global oil market is currently stable, although a trade dispute between the US and China as well as risks of a global economic slowdown remain key factors influencing the market, the Russian Energy Ministry said Friday.

    "The Russian Energy Ministry notes the stable situation on world oil market at the moment. We appreciate the important role of our partners from Saudi Arabia and the OPEC + countries in minimizing the effect of destabilizing actions on the market," the ministry said in a statement.

    According to the statement, a rapid recovery of Saudi Arabian oil production capacities following a drone attack is a result of the professionalism and reliability of the largest manufacturers in the industry, as well as their ability to quickly respond to uncertainties.

    "Russia continues to actively cooperate with Saudi Arabia and OPEC + partners to increase market stability and predictability. Today, the main factors influencing the uncertainty on world markets is the unpredictability of the outcome of trade negotiations between the US and China, as well as the risks of a slowdown in global GDP growth," the statement said.

    Earlier, Kirill Dmitriev, CEO of the Russian Direct Investment Fund developing several joint projects with Riyadh's Aramco, said that the fast recovery of Saudi oil production highlights a strong professionalism and resilience in the Saudi energy giant following a major attack on the oil industry and, by default, the current global financial architecture.


    Russian Energy Ministry to Negotiate LNG Export With Pakistan
    Russian Energy, Finance Ministries Coordinate Positions on New Oil Industry Tax
    April Oil Output Decrease Averages 258,600 Bpd - Russian Energy Ministry
    EU Sanctions Over Siemens Scandal Violate Int'l Law - Russian Energy Ministry
    US Sanctions Won't Affect Energy Supplies to Crimea - Russian Energy Ministry
    oil market, Russian Energy Ministry, statement, oil, Saudi Arabia, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik