All news

Russia’s energy minister does not rule out that oil prices could fall to $30 per barrel

The prices could fall due to overproduction

MOSCOW, June 10. /TASS/. Russian Energy Minister Alexander Novak did not rule out that oil prices could fall to $30 per barrel due to overproduction, the Minister told reporters after the meeting of the Russian-Saudi intergovernmental commission on trade, economic and scientific and technical cooperation.

"This scenario is possible. A lot depends on the market situation in the second half of the year, on the balance of supply and demand, on how events will develop - with uncertainties, trade wars, sanctions pressure," Novak said.

Earlier, First Deputy Prime Minister, Finance Minister Anton Siluanov said that oil prices could fall to $30 per barrel if OPEC+ countries do not agree to extend production restriction.