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

Dhwani Mehta FXStreet

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.

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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