Russia's Deputy Prime Minister Alexander Novak said on the 4th at the St. Petersburg International Economic Forum that if the Middle East conflict continues and Gulf oil producers fail to raise output, the international oil market could face a broad,

2026-06-04

Russia's Deputy Prime Minister Alexander Novak said on the 4th at the St. Petersburg International Economic Forum that if the Middle East conflict continues and Gulf oil producers fail to raise output, the international oil market could face a broad, material supply shortfall in coming months, RIA Novosti reported. Novak said the impact of the global energy crisis is already visible and called it "an unprecedented crisis."