Russian energy minister reveals when oil market to be stabilized

Russian energy minister reveals when oil market to be stabilized

The oil market will be stabilized by the summer, Russia’s Energy Minister Alexander Novak said in an interview aired by the Rossiya-24 TV news channel.

The minister said that the joint efforts agreed by OPEC and non-OPEC countries in December in Vienna will stabilize the situation, balance it in the first half of 2019.

"The demand will traditionally grow during the summer, which is why I think the market will be balanced," TASS cited Novak as saying.

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