ST. PETERSBURG, June 18. /TASS/. Russia does not see any shortage of oil supply globally due to the conflict in the Middle East, Deputy Prime Minister Alexander Novak told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"No shortage so far, the balance of demand and offer is being kept. Supplies are being made," he said.

Risks for oil supplies are present globally and they are reflected in its price, Novak said. "Yes, there are certain risks; the market assesses them. It is recognized in the price in particular," he added.