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Russian minister Novak expects decline in oil supplies on global markets

Reuters
Russian Energy Minister Alexander Novak speaks to journalists following a news conference at the Russia-ASEAN summit in Sochi, Russia, May 20, 2016. Host photo agency via Reuters

MOSCOW (Reuters) - Russian Energy Minister Alexander Novak expects oil supplies to decline year on year on global markets in the second, third and final quarters of 2016, he said on Sunday on the ministry's twitter account.

Novak also said that oil consumption would rise, even if its share in the global energy mix declines moderately.

(Reporting by Vladimir Soldatkin; Editing by David Goodman)