MOSCOW, September 17. /TASS/. The recovery of global oil demand is expected in the second quarter of 2021, Russian Energy Minister Alexander Novak said in an interview aired by the Rossiya-24 TV news channel on Thursday.
"We expect [global oil] demand to fully recover in Q2 2021," he said.
Meanwhile, the ministry has noted prerequisites to slowdown of global oil demand recovery recently, he added.
Novak considers it necessary to prevent surplus on the oil market. "Supply is currently less than demand by around 1.5-2 mln barrels, which allows gradually reducing the remainder of stock. That supports the market balance, supports the general positive situation," he explained.