The Russian Ministry of Finance proposes to return in 2024 to the calculation of the parameters of the budget rule not from oil and gas revenues, but from the base price of raw materials. Finance Minister Anton Siluanov stated this at a meeting of the Russian government. TASS.
“Some changes have been made to the budget rule,” the department head said.
He explained that if the basic oil and gas revenues in Russia in 2023 are calculated according to the nominal figure of 8 trillion rubles, it would be better to return to normal parameters next year. Siluanov recalled the base oil price: 60 dollars per barrel.
On September 20, the government to wait Decrease in oil production volumes in the Russian Federation. Russian Deputy Prime Minister Alexander Novak said that they predict that production will decrease to 527 million tons in 2023, and that oil production in 2023 will reach 535 million tons, an increase of 2% compared to 2021. The decline in projected indicators is associated with OPEC+ decisions.
Formerly JPMorgan guess Oil prices rising to $120 per barrel.