On Sunday, Russia’s Energy Minister Alexander Novak advised global energy market players to unite in combating the impact of coronavirus, which has clouded fuel demand.
Novak said that the global oil demand in 2020 is likely to fall by 10% due to the crisis, which has driven firms to slash production investment by between 25% to 30%.
He added that the Organization of the Petroleum Exporting Countries and allies (OPEC+) has the task to enhance stamina and solidarity in the face of the current global market challenges.
