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Russia sees significant improvement in global oil demand in August

Russian Energy Minister Alexander Novak said on Thursday he expected global oil demand to recover significantly in August and improve to 10% below the levels seen prior to the coronavirus crisis.

Novak said demand, which was at around 100 million barrels per day (bpd) before the pandemic, dropped to 25% below pre-crisis levels in April.

PetroNeft Resources plc (LON:PTR) is an international oil and gas exploration and production company, focussed on Russia. The company’s s shares are listed on the London AIM and Dublin ESM Markets.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.