21:42 GMT +322 September 2019
Listen Live
    Energy Minister Alexander Novak

    Supply Surplus in Oil Markets to Drop to 1Mln Barrels Per Day by 2017 – Minister

    © Sputnik / Alexandr Kryazhev
    World
    Get short URL
    0 44
    Subscribe

    Alexander Novak said Monday he expected the surplus in global oil markets to drop to 1 million barrels a day by the end of 2016.

    ISTANBUL (Sputnik) Russian Energy Minister Alexander Novak said Monday he expected the surplus in global oil markets to drop to 1 million barrels a day by the end of 2016.

    "We will see a surplus of some 1 million barrels a day by the end of the year. It was around 1.8-2 million at the start of the year and is likely to drop by approximately 1 million barrels," Novak told reporters.

    Related:

    Saudi Energy Minister to Discuss Algiers Oil Cap Deal With Russian Counterpart
    Russian Tatneft, Iranian NIOC Sign Deal on Dehloran Oil Field Development
    Belarus, Iran in Talks on Oil Supplies - President
    Tags:
    oil markets, Alexander Novak, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik