Russia sees global oil market supply and demand balancing in June and July: Reports

A well head and drilling rig in Russia. (File photo: Reuters)

Russia's energy ministry sees global oil demand and supply balancing in June and July as consumption rises, the RIA news agency said on Monday, citing an unnamed source.

The ministry currently sees a surplus of 7-12 million barrels per day on the global market, the source said.

The energy ministry declined to comment.

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Last Update: Monday, 25 May 2020 KSA 17:29 - GMT 14:29