Russian Energy Minister: Oil Market Could Face a Shortage in July

Russia’s Energy Minister Alexander Novak said on Thursday that the global oil market may strike a balance between supply and demand and may face a shortage of crude. Citing Reuters.

He added that investments in the global energy sector will decrease by one third this year, noting that recovery in consumption to pre-corona virus crisis rates is not expected before the end of 2021, and that a second wave of Corona virus may harm oil demand.