Russian minister: Oil supply not to increase after US lifts export ban

BEIJING, Dec 17 (PRIME) -- The lifting of the U.S. embargo on oil exports, now under discussion, will not lead to a significant increase of supply on the world market, Russian Energy Minister Alexander Novak told PRIME Thursday.

“First, we have to answer the question: Does the U.S. have an excess of oil to export it? They are one of the world’s largest oil importers, so I don’t think that significant amounts will enter the market,” he said.

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