Novak: Oil prices may range between $80-$85 in 2024 - Breaking The News

Novak: Oil prices may range between $80-$85 in 2024

27 December

1 min read

EPA-EFE/ANATOLY MALTSEV

Russian Deputy Prime Minister Alexander Novak said on Wednesday that the Brent oil prices in 2024 could be in the range of $80 and $85 per barrel.

In an interview with Russia-24 TV channel, Novak noted that Russian oil and gas revenue will reach approximately 9 trillion rubles by the end of 2023. He added that about 57% of Russia's total export revenues came from the fuel and energy sector, stressing that many countries want to buy Russian oil and petroleum products.

Furthermore, the official said that he expects the first liquefied natural gas shipments from the Arctic LNG 2 plant to start in the first quarter of 2024, stressing that Russia proved that it is capable of working successfully under Western sanctions.

novak sanctions oil natural gas lng

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