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2/7, 12:42 PM (Source: TeleTrader)
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Novak sees no restrictions on Russian oil to China

Russian Energy Minister Alexander Novak said on Friday that despite the negative impact due to coronavirus, he didn't see any drop in demand for Russian oil and gas supplies in China.

On the other hand, Novak said he expects that global oil demand could drop by 150-200 thousand barrels per day in 2020 compared to the previous year, while adding that specifically, he sees a decrease in oil production in Libya, Iran and Venezuela.

Brent for deliveries in April fell 0.36% to $54.73 per barrel and West Texas Intermediate (WTI) for settlements in March declined 0.53% to sell for $50.69 per barrel at 6:24 am ET.

Breaking the News / BJ