Novak: oil demand to be high this year

Russia's Energy Ministry does not expect a decline in world oil demand this spring, the head of the ministry Alexander Novak said.

Analysts pointed out that the decline in oil prices in the second half of February may be associated with a gradual seasonal slowdown in the growth in oil demand.

"No, we think that this year there will be strong growth in demand," Interfax cited Novak as saying.