The consequences of the drop in oil prices for Russia have become known.

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Consequences of Falling Oil Prices for Russia
12.12.2024
48
The structure of oil and gas revenues in the Russian budget helps mitigate the risks of a decline in global oil prices, Sergey Tereshkin, CEO of the petroleum product marketplace Open Oil Market, said in a conversation with RIA Novosti.

According to him, one of the serious risks to Russia's budget system in 2025 will be a drop in raw material prices. The OPEC+ alliance, at its most recent meeting last week, extended the validity of the current quotas until March 2025, but the markets did not react positively. Tereshkin noted that the price of benchmark Brent crude oil remains in the range of $72–$75 per barrel.

Earlier, Igor Yushkov, an expert at the National Energy Security Fund and the Financial University under the Government of Russia, expressed the opinion that new U.S. sanctions against Russian oil could lead to a collapse in the global hydrocarbon market.

In the United States, he said, inflation could accelerate, and oil prices could soar to $200 per barrel.

Previously, the Russian Ministry of Finance explained the sources of replenishment for the Russian budget.



Translated using ChatGPT

Sourse: www.gazeta.ru/business/news/2024/12/12/24606812.shtml
#Energy Economics #Oil Prices #Russian Economy #Oil Market #Economic Impact #Energy Sector #Russia Oil Industry #Global Oil Trends # Economic Consequences #Oil Price Fluctuations
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