A drop in oil prices below the price set at 60 dollars per barrel in the budget may cause problems for the economy and financial markets. This is stated in review Financial stability of the Bank of Russia.
The Central Bank emphasized that the current oil pricing policy does not pose a risk to Russia’s financial stability.
As can be seen from the Central Bank review, the barrel price of Brent oil fell below 70 dollars in September this year as a result of increasing concerns about a slowdown in global growth. In comparison, the price of the Urals goes up to 64 dollars per barrel. The Central Bank of Russia notes that oil prices subsequently rose amid conflicts in the Middle East.
The Central Bank noted, among other things, that prices for Russia’s other export products, such as natural gas, coal, various metals and fertilizers, are at comfortable levels. At the same time, the Bank of the Russian Federation notes that they decreased compared to the average value in 2021-2023.
As can be seen from the Central Bank’s review, these reductions may have a negative impact on the revenues of exporting companies in the event of more serious risks to the global economy.
Russian President Vladimir Putin held a press conference after his two-day visit to Kazakhstan. reminded meThe fluctuation in the ruble exchange rate is associated with many factors. According to the head of state, these factors include oil prices as well as payments to the budget. Putin assured that the situation with the ruble exchange rate is under control.
Formerly Central Bank loaded The dollar exchange rate is above 109 rubles.
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Source: Gazeta
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