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Global oil demand to recover in 2021 - Russia’s Deputy PM

Positive indicators are in place, he stressed

MOSCOW, January 14. /TASS/. The global oil demand will recover in 2021 but risks exist as well, Russian’s Deputy Prime Minister Alexander Novak told reporters on Thursday on the sidelines of the Gaidar Forum.

"Positive indicators are in place. This is particularly related to proactive vaccination of the population in many countries and certification of new vaccine. It inspires optimism that the [oil] demand will grow. We expect it will start recovering in 2021," Novak said.

"On the other side, there are a lot of uncertainties. We see lockdowns that still continue, although not in such tough manner as earlier. They are extended for the winter period in many countries," the official said.

"Risks are in place as well," Novak noted. "We should keep a close eye and monitor them. The situation has not yet been restored," he added.