MOSCOW, September 27. /TASS/. Global energy markets cannot do without Russia's participation because the balance would be lost due to the large share of Russian oil on the market, advisor to the Russian President Anton Kobyakov told reporters at a briefing during the Russian Energy Week.

"Global energy markets will not be balanced and won’t do without Russia. How to balance 234 million tons of Russian oil? And that is exactly how much we exported in 2023. It is simply impossible. We are the second largest oil exporter in the world after Saudi Arabia," Kobyakov noted.

According to him, the current world is unable to exist without Russian energy, since Western countries, half of Eastern Europe, officially buy Russian energy resources.

"The rest are also buying [Russian energy resources], just unofficially, pretending that they are not Russian. It is difficult, and even impossible, to break up markets in the modern world," the adviser said.

He added that oil prices will be in the range of $50-80 in the near future.

"A drop below $50 is unlikely. Any geopolitical problem is a premium to market prices, and fluctuations in value can be very sharp," Kobyakov concluded.

The seventh international forum Russian Energy Week is organized by the Roscongress Foundation with the support of the Russian government, the Russian Energy Ministry and the Moscow government. TASS is the forum’s information partner.