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

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Oil prices will rebound in several months – Russian energy minister
source : Russia Today ( United Arab Emirates ) () 81
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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