Russia specifies the price of oil it considers acceptable - Sputnik France

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A price between $ 55 and $ 65 a barrel of crude oil is reasonable for both producers and consumers, said Russian Energy Minister Alexandre Novak, stating that the decision of OPEC and its partners it would "to" balance the market "and" preserve prices ".

The current oil price is perfectly suited to Russia in terms of budget revenues and the stability of its internal market, said Russian Television Minister Alexander Novak Rossiya's television channel 24.

"The decision that has been made [par l’Organisation des pays exportateurs de pétrole (OPEP) et ses partenaires, ndlr] will balance the market during the first and second quarter [de l’année prochaine, ndlr]. We hope to maintain at least current prices, "he said.

In the absence of a decision, the price of oil could have plummeted, which would have "had a negative influence on the hydrocarbon sector and economic indicators," he added.

He said that a price between $ 55 and $ 65 a barrel was balanced for both producers and consumers.

On Friday 7 December, Alexander Novak confirmed that Russia has agreed to reduce the daily oil production by 228,000 barrels a day. Previously, Moscow had refused to reduce its production volumes by 300,000 barrels per day, accepting only half of the desired reduction from OPEC + (OPEC members and 11 other countries) in the context of discussions in Vienna.

In this way, OPEC countries were able to agree to withdraw 1.2 million barrels per day from the market, including 800,000 OPEC countries and 400,000 non-OPEC members.

OPEC negotiations for an agreement to cut off crude oil production were halted Friday while Riyadh refused Tehran's request to be exempted due to US sanctions. said sources from the organization cited by Reuters.

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