Russia: our oil exports remain stable despite sanctions

Russian Deputy Prime Minister Novak made assessments of the oil markets in a statement to Russian state channel Rossiya-24.

Noting the ongoing uncertainties in the global oil markets, Novak said: “We see a lot of uncertainties being discussed constantly. These are specific questions about the global economy, an increase in supply or growth in demand.” he said.

Explaining that the Chinese economy has started to open up and they are expecting an increase in oil consumption, Novak said: “Furthermore, inflation expectations have not gone away and we are closely watching the steps that the central banks of the major economies of the world will take. world. “said he.

“PRICES ARE ACCEPTABLE”

Noting that they held talks with the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, which consists of non-OPEC oil-producing countries, Novak said: “The talks showed that everyone agreed that the situation in the oil market is stable. Prices are at an acceptable level in line with supply and demand.” he made the comment of him.

Regarding the Russian oil sector, where extensive sanctions apply, Novak said: “Despite the European embargo and the maximum price, the situation regarding our oil production and exports is stable. Our companies have taken all the necessary measures, especially to find new supply chains and markets.” he performed the assessment of it.