Russia to propose OPEC+ react to oil demand recovery -Novak

By anaafrica On Sep 2, 2020

MOSCOW, Sept 2- Global oil demand has recovered by as much as 90% of pre-pandemic levels, Russian Energy Minister Alexander Novak said on Wednesday, adding that Moscow would propose OPEC+ group to react to the trend under the global oil production cut deal. Novak expects full oil demand recovery to come some time next year, he said. “We will monitor the situation and…

MOSCOW, Sept 2 (Reuters) – Global oil demand has recovered

by as much as 90% of pre-pandemic levels, Russian Energy

Minister Alexander Novak said on Wednesday, adding that Moscow

would propose OPEC+ group to react to the trend under the global

oil production cut deal.

Novak expects full oil demand recovery to come some timenext year, he said.

“We will monitor the situation and balance oil output asthe(global) economy is recovering… We hope for speedy demandrecovery and will propose to react to it under OPEC+ deal,”Novak said.(Reporting by Olesya Astakhova; writing by Katya Golubkova andVladimir Soldatkin; editing by Jason Neely)