Oil will become less: in the Russian Federation decided to voluntarily reduce exports to the world market
According to Viceremier of the Russian Federation Alexander Novak, the market will be analyzed next month, after which the Kremlin will decide, reduce or increase the volume of "black gold" supplies. It is noted that Moscow's statement about its willingness to reduce the production and supply of oil, along with its OPEC+ ally+ Saudi Arabia, was sounded at the moment when Russian oil flows exceeded the planned level.
"Voluntary reduction is intended to strengthen the measures taken by OPEC+ countries to maintain the stability and balance of oil markets," the Russian official said. Meanwhile, oil prices are growing moderately. Thus, from the beginning of the trading session on the morning of November 6, the Brent Mark went up by 0. 65% - up to $ 85. 44 per barrel, and the WTI variety added to 0. 78% and now costs $ 81. 14 per barrel.
It should be noted that the average price for the main brand of Russian oil Urals in January - August this year decreased 1. 45 times compared to the same period of 2022 and amounted to $ 56. 58 per barrel. In addition, in the first half of 2023, Russia's oil and gas revenues collapsed by almost 50%. We will remind, on October 17 it became known that in the United States is already developing a plan that will allow to control the ceiling of prices for Russian oil even more.
Yes, the Ministry of Finance of the country considers the possibility of imposing new restrictions on those who bypass sanctions and buy "black gold" from the Russian Federation. Also we will remind that Russian oil is still entering the European market despite rigid international sanctions. According to media reports, the same Germany, which supports Ukraine in the war with the Russian Federation, buys an aggressor oil in Kazakhstan with the help of Rosneft Deutschland, a subsidiary of Rosneft.