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Oil surplus on global market will go down by July 1 — Russia’s energy minister

Логотип TASS TASS 01.06.2017 TASS

MOSCOW, June 1. /TASS/. The glut of oil on the global market will be cut by 100 mln barrels or by one third by July 1, Russia’s Energy Minister Alexander Novak said in an interview with TASS.

"According to our estimates, the stocks will be down by a hundred million (barrels) by July 1. In the second half of 2017 and the first quarter of 2018, the oil stocks will fall by another 200 million," the minister said.

ITAR-TASS

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