Russia's Novak says oil market not yet reached full recovery

25/12/2021 Argaam

Russian Deputy Prime Minister Alexander Novak

Russian Deputy Prime Minister Alexander Novak said oil prices are expected not to change significantly in 2022, and demand would recover to pre-COVID-19 levels in late 2022, Reuters reported.

 

Mosco plans to produce 540-550 million tons of oil in 2022, Novak said.

 

He added that oil market has not yet reached fully recovery.

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