Global oil demand to rise during driving season: Novak

14/03/2025 Argaam

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Alexander Novak, Russia's Deputy Prime Minister

Alexander Novak, Russia's Deputy Prime Minister

Global oil demand will pick up in the next months with the summer driving season, Reuters reported, citing Deputy Prime Minister Alexander Novak.

 

He added that this was factored into the OPEC+ producer group's decision to release more oil into the market.

 

OPEC+ is ready to act if sluggish demand and a rise in supplies from producers such as the US led to an oversupply, Novak said, noting that worries about demand might have been exaggerated.

 

"There were no talks at the moment about the resumption of Russian oil flows to Germany through the Druzhba pipeline," Novak said.

 

He added that Germany and Poland stopped purchases of Moscow's oil in 2023 over the conflict in Ukraine while Hungary and Slovakia still buy oil from Russia.

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