Russian Deputy Prime Minister Alexander Novak stated on Wednesday that the country's current stockpile exceeds that of the previous year, Ednews reports.
"We have a sufficient volume of reserves, they are higher than in previous years. We will continue to monitor the situation," he said while delivering a speech on television," adding that the government is working closely with companies to secure the "full employment of oil refineries" while working on repairing other ones. "[Domestic] market is secured and stable," he said.
On the nation's duties with the Organization of the Petroleum Exporting Countries (OPEC), Novak assured Russia "fully fulfills its obligations to voluntarily reduce oil production" and stressed that oil price surge is a "standard situation" amid the geopolitical tensions.
