Russian Energy Minister Alexander Novak on Sunday urged all global energy market players to combine efforts in order to combat the fallout from the spread of coronavirus, which has dampened fuel demand.
Speaking at an online conference of energy ministries from G20 countries, Novak also said global oil demand was seen falling by up to 10% this year due to the crisis, which has prompted companies to slash investment in production by 25-30%.
He also praised the efforts to stabilise oil market by the Organization of the Petroleum Exporting Countries and other large oil producers, led by Russia, a group known as OPEC+. “Our task, as the leaders of the energy industry, is to show stamina and solidarity in the face of the challenges like that,” Novak said in comments about the damages inflicted by the spread of coronavirus.
Reporting by Olesya Astakhova and Elena Fabrichnaya; writing by Vladimir Soldatkin; editing by David Evans
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia, China block release of UN report criticizing RussiaRussia and China block the official release of a report by U.N. experts on Libya that accused its warring parties and their international backers -- including Russia -- of violating a U.N. arms embargo on the conflict-wracked country, U.N. diplomats say.
Read more »
Hamilton on pole in Russia with sights on Schumacher recordFormula One championship leader Lewis Hamilton roared back from qualifying drama at the Russian Grand Prix on Saturday to put his Mercedes on pole position for what could be a record-equalling 91st victory.
Read more »
Motor racing: Hamilton on pole in Russia with sights on Schumacher recordFormula One championship leader Lewis Hamilton roared back from qualifying drama at the Russian Grand Prix on Saturday to put his Mercedes on pole position for what could be a record-equalling 91st victory.
Read more »
Russia vows to retaliate if U.S. Senators impose sanctions over Navalny poisoningU.S. senators have introduced a bi-partisan bill titled the 'Holding Russia Accountable for Malign Activities Act of 2020.'
Read more »
Putin says Russia and the US should make a deal to stop meddling in each other's elections - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Putin Asked Trump For A Mutual Ban On Election Interference. The White House Said Russia Should Stop Its Ongoing Meddling First.“A good starting point for discussion would be Russia discontinuing its ongoing meddling with the US election,” a senior Trump administration official told BuzzFeed News.
Read more »