Novak: OPEC+ ministers to discuss oil market in Moscow

Novak: OPEC+ ministers to discuss oil market in Moscow

Ministers of OPEC+ nations will discuss the issue of demand-supply on the oil market at the Russian Energy Week, Russia’s Energy Minister Alexander Novak told reporters on the sidelines of the Forum today.

"We have gathered here for that. Of course, we will also discuss the demand-supply issue," TASS cited the minister as saying.

Oil demand is expected to rise by 1.4 mln barrels per day in 2020 compared with 2019, Novak said in an article in the Energy Policy magazine published on Wednesday. This year the demand was under the pressure of trade wars, with daily increase only equaling 1 mln barrels, he said, adding that the growth of oil demand will recover next year.

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