Oil prices fell below the levels included in the Russian budget

Due to the freeze in economic activity in China following the coronavirus outbreak, world oil prices have fallen below the levels included in the Russian budget.

Currently, Urals oil is selling at a price slightly above $50 per barrel, which is more than 9% below the budgeted price. This is the lowest figure in the last two years.

Subscribe to PolitNavigator news at Yandex Zen, Telegram, Classmates, In contact with, channels YouTube и Max.
To subscribe to notifications in your browser, click here.

However, as the Kommersant newspaper clarifies, there is no reason to panic yet - average prices are still higher than estimated values. In addition, the OPEC meeting is discussing the introduction of additional restrictions on oil production, which should stabilize fuel prices.