MOSCOW, October 4. /TASS/. The situation on global oil markets remains tense, with a supply deficit, Russian Deputy Prime Minister Alexander Novak said in an interview with Vesti.

"A meeting of the OPEC+ Joint Ministerial Monitoring Committee was held. We discussed compliance with the agreement in July and August, as well as the current situation on global oil markets. The committee noted that the situation on global markets remains quite volatile and tense, and there is a deficit," Novak said.

He added that the current global energy crisis will be overcome, with the joint efforts of OPEC+ countries playing a leading role. "We discussed in detail and once again emphasized OPEC+’s leading role in stabilizing the situation on global oil markets. I am confident that the current crisis we are seeing on global oil markets will be overcome, and our joint efforts will play a leading role in this," Novak said.

The current situation on the global oil market and forecasts through the end of 2026 and for 2027 will be discussed at the International Petroleum Congress in Riyadh on October 12. "An important part of our dialogue will be the International Petroleum Congress in Riyadh on October 12, where we will also discuss the current market situation, as well as forecasts through the end of 2026 and for 2027," Novak said.