Oil market volatility remains low - Russian deputy prime minister

9 days ago

NEW YORK, October 15./TASS/. Volatility in the oil market remains low, largely to the influence of OPEC+, Russia’s Deputy Prime Minister Alexander Novak said in an interview with CNBC on Thursday.

"This volatility that we are witnessing in the gas market is not possible in the oil market. The oil market in comparison with the gas market is much more balanced, largely due to the deal still in force among the OPEC+ countries," Novak said.

However, "we cannot discard any scenario given the current situation in the energy markets," he noted. "Who would have thought less than a year ago that gas prices would be 2,000 dollars?" Novak asked.

Europe and China have been facing difficulties in the energy sector in the past few months. Gas and coal prices have soared against this background.

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