Saudi Arabia has destabilized oil market by increasing its oil output, Russia’s Energy Minister Alexander Novak said.
"This year Saudi Arabia has ramped up production by 1.5 million barrels per day, destabilizing the situation on the market," he said in an interview to the 'Russia 24' television channel.
He said that, "according to experts’ estimates, "demand-and-supply curves may coincide" in the second half of 2016. "It will balance the market," Novak believes, adding that such a factor as "new production in Iran" may affect the market, TASS reports.
