Russian official says oil market needs months to recover from Hormuz closure
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Russian official says oil market needs months to recover from Hormuz closure
Russian Deputy Prime Minister Alexander Novak said he expects it will take several months for the oil market to recover to its previous level, even if the Strait of Hormuz is reopened.
“The crisis is very deep – a very large number of barrels of oil did not reach the market during this period, and a large number of ships have accumulated in the Strait of Hormuz”, said Novak, sp
Russian Deputy Prime Minister Alexander Novak said he expects it will take several months for the oil market to recover to its previous level, even if the Strait of Hormuz is reopened.
“The crisis is very deep – a very large number of barrels of oil did not reach the market during this period, and a large number of ships have accumulated in the Strait of Hormuz”, said Novak, sp
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