The blockade of Hormuz prevents 6-7 million barrels per day of oil from reaching the markets - Russian Deputy Prime Minister

Alexander Novak said that this really significantly creates an imbalance between supply and demand, which creates serious volatility in today's market.

Moscow, October 12. /TASS/. In an interview with Vesti, Russian Deputy Prime Minister Alexander Novak said: About 6 to 7 million barrels of oil per day do not reach the world markets through the Strait of Hormuz, and this causes an imbalance between supply and demand.

He added: Today, on the sidelines of the World Oil Congress in Riyadh, a meeting was held with ministers, including the ministers of OPEC+ countries, where the current state of the world oil market and how to implement the agreement were discussed. It creates serious fluctuations in today's market.