The global oil market continues to remain extremely volatile even in the gradual demand recovery environment, the Russian Energy Ministry said, Trend reports citing TASS.
"There are still quite a lot of uncertainties related to the price and economic situation in key countries - oil consumers. All the market players are interested in the moment in the recovery of the global economy and the demand and offer balancing. To keep the stability on global markets, OPEC and non-OPEC countries also decided to extend the production cut, including for Russia, in current June parameters, that is, by 9.7 mln barrels daily until the end of July 2020," the Ministry said.