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Russian Deputy Prime Minister Alexander Novak, speaking on Tuesday at the start of the OPEC+ meeting of leading oil producers, said the global economy is recovering.
Oil prices rallied ahead of and during the monthly meeting of OPEC+ early on Tuesday after the alliance’s Joint Ministerial Monitoring Committee (JMMC) signaled there would be no changes in the plans to boost July oil production
Deputy Prime Minister Alexander Novak mentioned that the economic recovery track might approach
MOSCOW, June 1. /TASS/. Russia notes the recovery and normalization of the global economy because of large-scale vaccination of the population worldwide, and this creates good signals for the oil market, Deputy Prime Minister Alexander Novak says on Tuesday at the OPEC+ ministerial meeting. We can speak about gradually approaching the economic recovery tracks. As of May-end, 1.5 bln coronavirus vaccinations were made globally. China, the US, and India become leaders in terms of vaccinated citizens, Novak says. The share of individuals vaccinated at least once is over 48% in the United States, 55% in the United Kingdom, and figures are high in other countries as well. This mitigates risks of a new disease outbreak and creates preconditions for growing mobility of the population, the official adds.
Russia’s Novak tells OPEC+ ministers global economy is recovering
Russian Deputy Prime Minister Alexander Novak, speaking on Tuesday at the start of the OPEC+ meeting of leading oil producers, said the global economy is recovering.
He praised the COVID-19 vaccines rollout globally, saying this would increase population mobility. Novak also said that OPEC+ cooperation was beneficial for the global oil market.
Source: Reuters (Reporting by Vladimir Soldatkin and Olesya Astakhova. Editing by Jane Merriman)
2021-06-01