MOSCOW, September 26. /TASS/. Russia's oil and gas revenues in the baseline scenario in 2025 could decline by 12.5% compared to 2024, to $206.1 billion, according to a forecast for the country’s socioeconomic development for 2026 and the planning period of 2027 and 2028, released by the Economic Development Ministry.
The ministry also expects that oil and gas revenues could grow to $215.2 billion in 2026, to $227.5 billion in 2027, and to $251.2 billion in 2028.
Under the conservative forecast takes note of some increase in sanctions pressure through secondary sanctions, primarily against the country's fuel and energy sector, growing imbalances in the global economy due to trade wars, and, correspondingly, slower growth in global oil demand with higher rates of supply growth from non-OPEC+ countries, which will put pressure on global balances and prices.
That means that under the conservative scenario, oil and gas revenues are expected to decline to $162 billion in 2026, to $172 billion in 2027, and to $185.8 billion in 2028.