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Russia considers it hardly possible to reach oil demand peak in coming years — Novak

Moscow shares OPEC’s view, which suggests doubling of global GDP in coming 20 years, the minister said

ST. PETERSBURG, June 6. /TASS/. The peak of oil demand is hardly possible in coming years due to growth of global economy and energy consumption, Russian Deputy Prime Minister Alexander Novak said at the St. Petersburg International Economic Forum (SPIEF).

"We do not see the demand peak in the near future," he said.

Moscow shares OPEC’s view, which suggests doubling of global GDP in coming 20 years, Novak added.

The St. Petersburg International Economic Forum (SPIEF) is being held on June 5-8. This year’s theme is "The Formation of New Areas of Growth as the Cornerstone of a Multipolar World." Scheduled events include meetings for small and medium-sized businesses, creative industries, the SPIEF Youth Day, as well as the Drug Security, SPIEF Academy and SPIEF Junior forums. SPIEF is organized by the Roscongress Foundation. TASS is the information partner of the event.

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Alexander Novak

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