Russian energy minister warns of Covid-19 risks for global oil

Representative image. Credit: AFP

Russian Energy Minister Alexander Novak said on Monday that the global oil market has been stable for the past few months and the balance between supply and demand has been restored, while uncertainties, such as a rise in Covid-19 cases, remain.

He also said that talks about the possibility of diverting oil product exports from Belarus to Russian ports have continued and that Russia can handle 4-6 million tonnes of oil product exports from the neighbouring country.