Head of the IEA: the world needs Russian oil
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Despite the sanctions, the world still needs an influx of Russian oil to the market, said Fatih Birol, Executive Director of the International Energy Agency (IEA). According to him, if the market receives from 80% to 90% of the usual volume of Russian oil, then this is a “good and encouraging” level to meet demand.
During his speech at the Singapore International Energy Week, Mr. Birol said that the countries of Europe will be able to survive the coming winter if it is not “extremely cold and long.” At the same time, in his opinion, they will still incur “some economic and social costs.” “The world still needs Russian oil to enter the market,” he stressed (quoted from Reuters).
IEA thinks Russia’s final loss of the European energy market. The G7 countries (Great Britain, Germany, Italy, Canada, France, Japan and the USA) intend to introduce a price ceiling for Russian oil by December 5. By data Bloomberg, US authorities want to set a price range above $60 per barrel. Head of the Ministry of Finance of the Russian Federation Anton Siluanov warnedthat Russia will not supply oil at marginal prices.
On the development of the situation – in the material “Kommersant FM” “Tankers are predicting a shadow”.
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