Oil prices will rebound in several months – Russian energy minister ...United Arab Emirates

It will take the oil market several months to recover from the current turbulence, Russian Energy Minister Alexander Novak said on Tuesday, adding that plummeting oil prices were not a surprise for Russia. “This scenario was expected and calculated,” he told Rossiya-24 channel the day after a 30 percent drop in crude prices. On Tuesday, oil gained around 8 percent – a good signal that some panic sentiments have already vanished, the minister believes. The recovery of oil prices will depend on a wide range of factors, primarily on how the governments will contain the coronavirus outbreak as the epidemic has an impact on demand and consu

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