MOSCOW, March 26. /TASS/. The situation on the global oil market is stable now, which is demonstrated by the demand and supply balance, Deputy Prime Minister Alexander Novak said.

"The situation is stable, in my view. We see it judging by the demand and supply balance. Demand is recovering gradually after the winter period," he said in an interview with the Rossiya-24 TV channel.

Global oil demand is expected to grow by 1-1.5 mln barrels per day this year, Novak added.