Prolonged Hormuz Crisis Will Push Oil Prices Even Higher
4 Articles
4 Articles
The price of oil in the world markets could increase even more if the situation in the Strait of Ormuz continues to be volatile, said Vice-Premier Alexander Novak. "We see that about 4 to 6 million barrels a day the market today does not receive oil. Therefore, the price has risen, it responds to the deficit. Volatility is high. The market is waiting for something to get better, and the prices are still high," TASS quotes Novak.
Russian Deputy Prime Minister Alexander Novak stated that if oil shipments resume through the Strait of Hormuz, the global market will recover within 1 to 1.5 years... October 17, 2026, Sputnik Türkiye
World oil prices can rise even more if the situation of shipping through the Strait of Ormuz does not stabilize, as stated by Russian Vice-Premier Alexander Novak in an interview with Marina Kim on "LIVE Solovov".
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