“Everything about $ 100 has long been forgotten. We live on the assumption that in the medium term fair prices are $ 50. The budget for 2019 is set up for us based on the price of $ 43-45 per barrel, ”Novak said.
According to him, in the long run, oil prices will be close to current levels due to the replacement of the decline in production in Iran and Venezuela with the growth of production in the United States and other countries.
Earlier, the Russian Ministry of Finance said that in the event of a fall in oil prices to $ 10 per barrel, the treasury will receive less than 5% of GDP in the form of revenues from the sale of energy resources.
On October 3, Novak announced that in 2019, global oil demand growth could reach its lowest level in seven years.