According to the “OPEC+” nations, it is difficult for consumers to set oil prices, and limits on their part will result in high prices, according to Russian Finance Minister Anton Celwanov.
The fact that “the countries” OPEC+”said that such an approach is impractical for her and chose to lower output shows that the market structure is suitable for the good.
Consumers can set their own limits, and if oil isn’t provided to them under these restrictions, oil prices will increase, he stated.
With a production rate of 10 million barrels per day and an exchange rate of 68 rubles to the dollar, he said, Russia has already set pricing for the upcoming years at $70 per barrel.
He explained: “We plan to reap more than 8 trillion rubles of oil and gas revenues. ”
Source: Novosti.
Moscow: “OPEC+” rejects the oil price rules
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