He added that the escalation of the Israeli-Palestinian conflict may affect the oil market.
Oil prices reacted strongly to the escalation in Gaza at the beginning of the week, after fears that supplies would be affected if the current conflict expanded.
The Governor of the French Central Bank, François Villeroy de Gallo, said in statements on Tuesday that the European Central Bank is particularly concerned about developments in oil prices, as a result of the situation in Israel.
Last week, before the escalation in Gaza, Saudi Arabia confirmed that it would continue a voluntary reduction of one million barrels per day until the end of 2023, while Russia said that it would maintain the voluntary reduction in exports by 300,000 barrels per day until the end of December.
At the time, Russian Deputy Prime Minister Alexander Novak confirmed that Saudi Arabia and Russia’s joint reduction in production helped achieve balance in the global oil market.
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