RIYADH, December 1. /TASS/. The situation in the global oil market is stable largely owing to OPEC+ actions, while small volatility is due to geopolitical factors, Deputy Prime Minister Alexander Novak said on the air with Rossiya-24 television.
"The situation in the market is stable, as we see. This is mainly owing to joint actions of OPEC+ countries. We see some volatility linked to geopolitical factors and risks that the market takes into account," Novak said.
The oil demand has slightly declined recently, the official said. "Accordingly, the supply balance in winter is in place because we make such decisions from the standpoint of manageability and decision taking by OPEC+ that will make it possible not to increase the supply in the market now," Novak added.