Russia’s Novak: Brent oil prices are seen at $80-$85 per barrel in 2024

Russian Deputy PM Alexander Novak expressed his view on oil supply cuts and Brent oil prices in 2024, in his appearance on Wednesday.

Key comments

Russia is a responsible participant of OPEC+ agreement

Our companies are sticking to their obligations on supply cuts.

Russia ensures stable work of oil industry and its strategic development.

On oil prices in 2024, Novak said, “we do not target oil prices.”

According to analyst estimates, Brent oil prices are seen at $80-$85 per barrel in 2024.

Around 1.5 mln t of oil was shipped via Northern Sea route this year.