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OPEC+ ministers to discuss issue of demand-supply on oil market at Russian Energy Week

This year the demand was under the pressure of trade wars, according to Russia’s energy minister

MOSCOW, October 2. /TASS/. Ministers of OPEC+ nations will discuss the issue of demand-supply on the oil market at the Russian Energy Week, Russia’s Energy Minister Alexander Novak told reporters on the sidelines of the Forum on Wednesday.

"We have gathered here for that. Of course, we will also discuss the demand-supply issue," he said.

Oil demand is expected to rise by 1.4 mln barrels per day in 2020 compared with 2019, Novak said in an article in the Energy Policy magazine published on Wednesday. This year the demand was under the pressure of trade wars, with daily increase only equaling 1 mln barrels, he said, adding that the growth of oil demand will recover next year.