Russian Energy Minister Novak Says Oil Prices Are Probably 'a Bit' High

The transcript discusses the complexities of the oil market, focusing on how risks, uncertainties, and sanctions impact market reactions and price levels. It highlights the influence of global trade wars on GDP growth and demand, and addresses concerns about high oil prices. The transcript also delves into the Russia-Iran oil-for-goods deal, explaining its commercial nature and the geopolitical implications of sanctions.

What is the expected price range for oil according to the President's statement?

How does the oil-for-goods deal with Iran benefit Russia?

What is Russia's stance on sanctions not mandated by the UN Security Council?