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Oil price for calculation of Russian oil and gas revenues to stabilize at $69/bbl by 2031

The share of the oil and gas sector in the GDP structure will continue declining during the forecast period amid smaller growth rate

MOSCOW, December 16. /TASS/. Oil prices for the calculation of oil and gas revenues will stabilize at $69 per barrel by 2031, according to the budget forecast of the Russian Federation by 2042 seen by TASS.

"Stabilization of the oil price for the calculation of oil and gas revenues at the level of $69 per barrel by 2031. At the same time, the oil price in rubles will keep the upward trend (by 1.03 times since 2026) over the period by 2042, while the gross domestic product deflator will grow twofold by 2042," the document indicates.

The share of the oil and gas sector in the GDP structure will continue declining during the forecast period amid smaller growth rate, including because of contraction of individual positions, production and exports of relevant products, the document says.

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