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Russian Energy Ministry considers $50 per barrel fair oil price

Russia's budget is based in 2019 on oil prices of $43-$45 per barrel, the energy minister noted

© Egor Aleev/TASS

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MOSCOW, October 7. /TASS/. Russia’s Energy Ministry considers $50 per barrel a fair oil price, Minister Alexander Novak said in an interview with the Reuters news agency.

"Everyone has forgotten about oil at $100 per barrel. We live based on mid-term oil price assumptions of $50 ... Our budget is based in 2019 on oil prices of $43-$45 per barrel," he said.

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