Report: Russian min says oil demand buds in central, north Europe

MOSCOW, Apr 27 (PRIME) – Demand growth for oil is registered in some countries of Central and Northern Europe, Russian Energy Minister Alexander Novak told channel Rossiya 24 in an interview broadcast on Monday.

"We have seen information literally today that there are sprouts of emerging demand growth in Central and Northern Europe,” Novak said.

“Whereas demand at fuel stations there fell by up to 70%, today we see that the indicator has fallen to 60–65%. This is a good thing and I think will give a good signal to the market."

The peak of the oil market problems will depend on the development of the coronavirus situation and measures of economic recovery, the minister said.

"It seems to me that much will depend on how the pandemic spread story in the world develops and the measures which have been already taken and how soon they will be removed, how fast normal life, aviation and transport connection will recover, operation of facilities, recovery of the economy in the world," Novak said.

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