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New COVID-19 strains may impact growth rates of oil demand, says Gazprom Neft CEO

Headlines 19:55 10 Dec, 2021

The new coronavirus strains may affect the growth rates of the oil demand

New COVID-19 strains may impact growth rates of oil demand, says Gazprom Neft CEO

The new coronavirus strains may affect the growth rates of the oil demand, with uncertainty persisting on the market, Chief Executive Officer Alexander Dyukov said in an interview aired by the Rossiya-24 TV news channel on Friday, adding that the situation on the oil market is expected to stabilize in the near future, Qazet.az reports citing TASS.

"Additionally, there is uncertainty related to new strains on half of factors responsible for demand, which can well have an impact on demand growth rates. We project the situation regarding demand and supply to stabilize shortly," he said.

If the oil demand continues pushing the supply up OPEC+ has instruments and capacities in hand to increase supply and bring the market situation into balance, CEO added.