Russia's Novak is on the wire talking oil:
- We see balance of supply and demand on the global oil market.
- Current Russian oil production is around 9.5 million barrels a day.
- Russian oil and gas condensate production is expected in the range of 520-530 million in 2024.
- The proportional decrease of Russian oil and oil products exports in OPEC+ is not so important, the main thing is the reduction of 500,000 barrels daily.
- The ban on gasoline exports is a preventive measure ahead of seasonal growth in demand.
- Gasoline export ban may be lifted at any moment once the market is saturated.
- Ban on diesel exports not under consideration.
The price of crude oil has been up and down today and is currently down $-0.36 at $78.51
