The global oil market is balanced and the current price of oil fully reflects this market situation, Russian Deputy Prime Minister Alexander Novak said in an interview with Russian television channel Rossiya 24 on Sunday. “We have seen low volatility over the past few months, which means that the market is balanced and today’s prices undoubtedly reflect this market situation,” said Novak who was promoted from energy minister to deputy prime minister last year.
Novak is still in charge of coordinating Russia’s oil policy…Russia: Oil Markets Have Rebalanced
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