Russian Energy Minister Alexander Novak said on Monday that the global oil market has stabilized in the past few months and that the balance between supply and demand has been restored, while the uncertainty factors such as rising Cases of emerging coronavirus (Covid 19).
Novak explained, according to Reuters, that talks about the possibility of transferring exports of oil products from Belarus to Russian ports are continuing, and that Russia can deal with exports ranging between 4 and 6. Millions of tons of oil products from the neighboring country.
Brent crude futures fell to the nearest maturity, today, by 0.9% to trade at $ 42 a barrel, and West Texas Intermediate crude oil prices fell to the nearest maturity, by 0.97% To trade at 39.86 dollars a barrel.
oil prices have risen in the recent period, thanks to the start of the (OPEC +) countries to implement the agreement, which provides for a historic reduction of 9.7 million barrels per day, immediately after the declines Sharp oil prices, and did not wait for the start of the application, which was scheduled for the first of May.
