Russia continues work in OPEC+ for keeping reasonable oil prices — Kremlin
MOSCOW, May 6. /TASS/. Russia continues work in the OPEC+ format for keeping oil prices at a reasonable level, Kremlin Spokesman Dmitry Peskov told reporters.
"Obviously, the international price for oil is an essential factor, which remains relevant and important for budget formation in our country, for the Russian economy overall. Here, of course, Russia has been working in the OPEC+ format for keeping prices at a reasonable level. Excessively high prices and too low prices are surely negative for the global economy overall. This work continues, we keep a close eye on the environment," he said when asked how the Kremlin estimates the fall in oil prices from the viewpoint of the influence on Russia’s budget and economy.
The price of futures contracts of Brent crude oil for July 2025 delivery has dropped below $59 per barrel on London's ICE for the first time since April 9, according to trading data.
