October 2, 2019 / 5:36 AM / 13 days ago

Russia's Novak sees global oil demand rising 1.4 million bpd in 2020

FILE PHOTO: Russian Energy Minister Alexander Novak adjusts glasses during a meeting chaired by Prime Minister Dmitry Medvedev in Astrakhan, Russia August 30, 2019. Sputnik/Dmitry Astakhov/Pool via REUTERS/File Photo

MOSCOW (Reuters) - Global oil demand is expected to rise by 1.4 million barrels per day (bpd) next year after growing at a rate of one million bpd in 2019, Russian Energy Minister Alexander Novak said in an article in the Energy Policy magazine published on Wednesday.

Novak also said that output caps in place as part of the global oil production deal between OPEC and its allies were temporary and that Russia would only undertake such cuts when they are in the national interest.

Reporting by Vladimir Soldatkin and Olesya Astakhova; Writing by Maria Kiselyova; Editing by Tom Balmforth

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