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Discrepancies between supply, demand may lead to super cycle on oil and gas markets

According to Rosneft CEO Igor Sechin, despite the uncertainty in the global economy due to the difficult epidemiological situation, the company observes a rapid growth in demand for traditional energy resources

MOSCOW, November 12. /TASS/. Structural discrepancies between supply and demand on global energy markets may lead to a new super cycle on the oil and gas markets, according to Chief Executive Officer of Russia’s top oil producer Rosneft Igor Sechin.

"Despite the uncertainty in the global economy due to the difficult epidemiological situation, we observe a rapid growth in demand for traditional energy resources. As structural discrepancies between supply and demand on global energy markets are further revealed, we may witness a new super cycle on the oil and gas markets," he was quoted as saying.

Under these conditions, Rosneft holds responsible to the consumers of our energy products and increases investments into the new projects, CEO noted. "At the same time, the structural growth of capex in the current macroeconomic environment, allows us to both increase the income of shareholders in accordance with the dividend policy and to continue the debt reduction," he added.

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