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OPEC+ can rebalance market if conflict in Middle East escalates — Russian Energy Minister

The International Energy Agency said in its October report that the conflict in the Middle East has not yet resulted in the rise in oil prices but the market remains on edge in expectation of crisis deepening

MOSCOW, October 12. /TASS/. OPEC+ countries can rebalance the oil market in case the conflict in the Middle East intensifies, Russian Energy Minister Nikolay Shulginov said in an interview with the Rossiya-24 television channel.

"The situation requires monitoring. I believe our interaction with OPEC+ countries will make it possible for us to rebalance the market in case of significant changes," the minister said.

The International Energy Agency (IEA) said in its October report earlier that the conflict in the Middle East has not yet resulted in the rise in oil prices but the market remains on edge in expectation of crisis deepening.

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