MOSCOW, September 22. /TASS/. Russia’s Economic Development Ministry predicts that the price of Russian export oil in 2024-2026 will be around $70 per barrel, Economic Development Minister Maxim Reshetnikov said at a cabinet meeting.

"Export prices for Russian oil will be about $70 per barrel in 2024-2026," he said.

Reshetnikov noted that this price level is a rather conservative estimate, since currently prices in rubles are approximately 20% higher than forecast.

The minister also added that the ministry expects the average price of Brent oil in 2023 to be $83.5 per barrel, $85 per barrel in 2024, and in 2026 the price will drop to $76 per barrel. "Such dynamics correspond to forward prices and take into account the possibilities of balancing within OPEC+," he emphasized.