Current Oil Price Range Beneficial For Russia - Energy Minister
Fakhir Rizvi 3 days ago Sat 08th December 2018 | 12:10 AM
The current oil prices are most favorable for Russia in terms of budget revenues and balancing the situation on the domestic market, Russian Energy Minister Alexander Novak said Friday.
"The current price, its preservation and lower volatility are most favorable for us, both in terms of budget revenues and balancing the situation in the domestic market," Novak told Rossiya 24 television.
"In my opinion, in the future, prices in the range of $55-65 could be balanced for both consumers and producers, and create conditions for the development of the industry without causing overproduction on the market, and at the same time ensuring that there is no shortage," Novak said.