Russia’s energy minister has said there was a risk oil prices would drop in winter due to market volatility, according to a media report.
Alexander Novak told Russian news website TASS: “It is hard to forecast supply on the market due to contingencies that emerge. A risk of cheaper oil prices remains in general.
“We used to say earlier that a balance between supply and demand of oil will be achieved only in 2017, and we stick to these forecasts.
“In general, we expect that demand will rise by 1.1-1.3 million barrels (per day) compared to the previous year.”
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