So far, the Russian Federation’s budget has been supported by reserves. However, subject to a long fall in prices, the national welfare fund of the Russian Federation may be empty in less than one year.
The Russian government is afraid that in the second half of 2025 excess supply may occur in the oil market, leading to a further collapse in prices. It reports about it Reuters.
At the June meeting, OPEC+ agreed to increase the manufacture of 411 thousand barrels per day. Along with previous decisions for April and May, it was 1.2 million barrels of sun -day -to -day items. By the end of the year, 2.2 million barrels could enter the market – a record volume over the past five years.
Russia, according to data Reuters And BloombergThe victim’s rise was opposed, but the decision pushed Saudi Arabia. He went to it after pressure from the United States, especially Donald Trump, who called the reduction of oil prices.
Despite the new quota – 262 thousand barrels per day – Russian oil -producing companies are not in a hurry to increase production. They are afraid of further falling prices.
Since the beginning of the year, Brent fell at the price of 12%, while the Urals – by 21%, up to $ 52 per barrel, which significantly hit the Russian Federation’s budget: oil and gas revenues fell 12%in the first four months of the year, and by May the fall accelerated by 34%.
The Russian government was forced to change the budget from $ 69.7 to $ 56 per barrel. As a result, the funding of state programs in industry and science has been reduced. According to new estimates, Russia can lose $ 30 billion export income, and the budget deficiency will reach 3.8 trillion rubles – three times more planned.
In August, a new tense discussion with OPEC+is expected. Experts are warning that Russia has no levers to prevent further increases in the manufacture of Saudi Arabia. Analysts remember a similar situation in the 1980s, when cheap oil prices contributed to the USSR collapse.
So far, the Russian Federation’s budget has been supported by reserves. But subject to a long collapse in prices, the national welfare fund of the Russian Federation may be empty in less than a year.
Earlier it was found that Russian oil revenues fell to a two -a minimum. Various grades now trade in the market for about $ 52 per barrel.
Russia bypasses Biden’s penalties and increases oil supply to Asia – Media
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.