Novak Warns of Oil Crisis Amid Middle East Conflict
Published by WarSignal Editorial · Last updated
Deputy Prime Minister Alexander Novak said the oil industry remains in a deep crisis due to a supply shortage caused by the conflict in the Middle East. He highlighted the ongoing impact on global markets and the need for cooperation within OPEC+.
Novak’s remarks came during a briefing in Moscow, where he emphasized that the supply gap is a direct result of the regional turmoil. He urged member countries to work together to stabilize the market.
The statement underscores the continued volatility in oil prices linked to geopolitical tensions in the Middle East, a key region for global energy supply.
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