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Russia’s Novak expects full global oil demand recovery by second quarter next year

FILE PHOTO: Russian Energy Minister Alexander Novak at the St. Petersburg International Economic Forum

MOSCOW (Reuters) – Russian Energy Minister Alexander Novak expects global oil demand to recover fully in the second quarter of 2021, he said on Thursday.

Novak also said that the global oil demand recovery has slowed and that leading oil producers, a group known as OPEC+, should restore output gradually in line with the demand recovery so not to overheat the market.

(Reporting by Vladimir Soldatkin and Olesya Astakhova; Editing by David Goodman)

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