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Thursday 3 June 2021

Russian Finance Minister Thinks 2019 Oil Demand May not Recover

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ST. PETERSBURG (TASS) — The oil demand of the 2019 level may not recover due to the global “green” trend, Russian Finance Minister Anton Siluanov said at the St. Petersburg International Economic Forum on Thursday.

Siluanov said:

Obviously we understand that the global demand for oil of 2019 may not recover due to a strong trend of the green economy. This is good, and we have to get prepared. We have already made first steps from the viewpoint of the tax maneuver.

OPEC projects oil demand in 2021 to rise by 6 mln barrels per day to 96.5 mln barrels per day. Moreover, the demand is expected to exceed 99 mln barrels per day in Q4. Meanwhile, oil demand outside OECD states is expected to gain 6.8%, or 3.3 mln barrels per day, whereas in OECD countries 6.4%, or 2.7 mln barrels per day.

The St. Petersburg International Economic Forum organized by the Roscongress Foundation is taking place on June 2-5. The topic of this year’s forum is “Together Again - Economy of New Reality”.

  Forum posts

  • In other words, the crisis will be long, very long.

  • inflation just hit 2008 levels, fear of major economic crash ignite as Russia drops dollar from national fund.

  • Buy hard assets of ACTUAL value, rather than saving up this worthless paper. better to be poor in the bank, and rich in the real world. better get your hands on a reliable, easy to repair vehicle, and spare parts. anyone who buys a tesla (or any modern car with no reliability history) right now is a FUCKING MORON.

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