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World oil prices

International prices record high for oil products — Novak

Oil refining declines worldwide due to the contraction of oil supplies amid the conflict and many countries introduced export bans, the official noted

MOSCOW, March 26. /TASS/. International prices of petroleum products are record high amid the conflict in the Middle East and their shortage is observed in markets, Russian Deputy Prime Minister Alexander Novak told reporters.

"It is obvious the shortage of oil products is currently in international markets. Oil products prices grew even much higher than oil prices; everyone usually looks at oil prices but if we look at petroleum products - they beat all the records now," Novak said.

Oil refining declines worldwide due to the contraction of oil supplies amid the conflict and many countries introduced export bans, he added.

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