Deputy PM says oil market likely to recover fully in 2022

MOSCOW, Oct 14 (PRIME) -- The global oil market will probably fully recover by the end of 2022, Deputy Prime Minister Alexander Novak said during the Russian Energy week on Thursday.

"Concerning the oil market, it is recovering sustainably, this is the most balanced market, which, although it has not fully recovered after the 2020 crisis, we see demand growth by 6 million barrels (per day) in 2021 out of the 10 that we lost last year,” Novak said.

“Next year, we will probably see full market recovery by the end of the year."

He said that the oil market is more balanced than the gas one, and prices reflect the real situation.

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