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10/19, 4:24 PM (Source: TeleTrader)
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Russia's Novak: Oil demand recovery slowing

Russia's Energy Minister Alexander Novak revealed on Monday that the demand for crude oil slowed down due to the renewed threats caused by the coronavirus pandemic.

"In this period of extreme volatility, the OPEC will continue monitoring the market movements and acting accordingly," Novak said, adding that investments into the energy sector are expected to decline by up to 20% this year.

The OPEC held the 23rd Meeting of the Joint Ministerial Monitoring Committee (JMMC).

Breaking the News / ND