Russia estimates the current deficit in the oil market at one million barrels per day.

He also added that the IEA’s recommendations to stop investments in oil and gas have not been calculated and have populistic nature. “Even with the energy transition, for the next decade, hydrocarbons will occupy a dominant position in the energy balance, will ensure the security of the world and the need for even the same electricity.”

The Deputy Prime Minister said that the OPEC+ countries see the possibility of Iranian oil returning to the world market. The republic, which is now under US sanctions, can return to pre-sanctioned supply levels in a few months (four million barrels per day).