March 27, 2020 / 8:36 AM / 4 months ago

Russia says fall in oil supply may balance market in a year - Ifax

MOSCOW, March 27 (Reuters) - A decline in oil supply may lead to the global market balancing out in a year, while demand - hurt by the coronavirus pandemic - should be watched, Russian Deputy Energy Minister Pavel Sorokin was quoted as saying on Friday by Interfax news agency.

He said oil output in the United States, the world’s largest producer, could fall by 1.5 million barrels per day this year with the oil price at $30-$35 per barrel. (Reporting by Maria Kiselyova; Writing by Vladimir Soldatkin; Editing by Mark Potter)

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