Moscow: "OPEC+" Refuses to dictate oil prices

Russian Finance Minister Anton Siluanov pointed out that the countries of the OPEC + alliance consider it impossible to impose oil prices on consumers, and that restrictions on their part will lead to an increase in these prices.

The OPEC+ countries considered such an approach impossible for themselves and decided to cut production, which indicates that the regulation of the market remains with the manufacturer, Siluanov said.

He continued: “Consumers can impose their own restrictions, and if oil is not supplied to them, taking into account these restrictions, oil prices will rise.”

He added that Russia has set conservative prices for the coming years at $70 per barrel, taking into account the ruble exchange rate of 68 rubles against the dollar at a production level of 10 million barrels per day.

“We plan to receive more than 8 trillion rubles in oil and gas revenues,” he explained.

Source: RIA Novosti