Oil markets are surrounded by 'black swans' and 'they can seriously impact the market situation,' Russia's Energy Minister Alexander Novak said.
"The situation is quite difficult," Novak said at a Russia Energy Week event in Moscow when assessing the outlook for oil markets.Novak gave an example of demand growth over the summer not being as expected, making the demand outlook for the winter harder to predict.markets are surrounded by "black swans" – unforeseen events – and "they can seriously impact the market situation," Russia's Energy Minister Alexander Novak said Wednesday.
"Despite the fact that we see more or less stable fluctuations around the price of oil, around $50-$60 per barrel, and we've seen some more fluctuations due to the attack on the Aramco facilities that was a short period of fluctuations - so we see some kind of stability. But, nonetheless, we do not see the stability per se on the market," he said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump pressed Australian Prime Minister to help with Justice review of Russia probe originsBREAKING: President Trump pressed Australia's Prime Minister during a recent phone call to help Attorney General William Barr with his review of the origins of the Russia probe, according to an official familiar with the call
Read more »
Environmentally friendly batteries breakthrough as concept doubles energy density of 'state of the art' aluminum batteries'The material costs and environmental impacts that we envisage from our new concept are much lower than what we see today,' said researcher Patrik Johansson.
Read more »
Sempra Energy to sell stake in Peruvian businesses for $3.59 billionU.S.-based Sempra Energy said on Monday it would sell stakes in its Peruvian ope...
Read more »
'Coal is still king' in Southeast Asia even as countries work toward cleaner energyCoal is still a dominant fuel in the rapidly growing economies of Southeast Asia, data from several recent reports show.
Read more »
Keith Urban Remembers the 'Incredibly Positive Energy' of Late Songwriter/Producer BusbeeKeith Urban tells Billboard about working with busbee, as other artists take to Twitter to mourn the songwriter's passing
Read more »
Coca-Cola Energy is coming to the United StatesCoca-Cola will start selling four varieties of its energy drink — Coca-Cola Energy, Coca-Cola Energy Zero Sugar, Coca-Cola Energy Cherry and Coca-Cola Energy Cherry Zero Sugar — in the United States in mid-January.
Read more »