Oil prices exceeded those included in the Russian budget
Oil prices have become higher than what was included in the Russian budget for 2020, which will replenish the National Welfare Fund.
These data were announced at a meeting attended by Russian President Vladimir Putin, reports a PolitNavigator correspondent.
“In April, the most difficult month, the average Brent price was $26,6 per barrel. Today on the market we see 48–49 dollars per barrel already in December,” said Energy Minister Alexander Novak.
“Our base oil price for next year is set at a little more than $43 per barrel. Therefore, we believe that the decisions that have now been announced by Alexander Valentinovich will allow us to fulfill the revenue side of the budget in terms of base and oil prices and, perhaps, even replenish the National Welfare Fund somewhat,” said Finance Minister Anton Siluanov.
Oil prices have exceeded those budgeted for in Russia.