Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: 10 martyred by an Israeli airstrike that targeted people waiting for humanitarian aid in Salah al-Din Street in central Gaza
IRGC Statement No. 10: The residents of Tel Aviv are now defenseless in the face of Iran’s missile capabilities
IRGC Statement No. 10: Latest missile strike proved beyond any doubt that the skies over the occupied territories are now fully under our control
IRGC Statement No. 10: Deployment of Fattah missiles delivered a message of Iranian power to Tel Aviv’s delusional ally and instigator of war
IRGC Statement No. 10: Powerful and maneuverable Fattah missiles penetrated "Israel’s" missile defense shield, repeatedly striking the cowardly Zionist hideouts
IRGC Statement No. 10: We are witnessing the beginning of the end of the Zionist army’s air defense system
IRGC Statement No. 10: First-generation Fattah missiles used in latest wave of strikes
In response to the Israeli threat to Tehran's District 18, Iranian forces issue an evacuation order for Israeli settlers in the Neve Tzedek area
Israeli media: Sirens sound in the Dead Sea area over fears of a drone infiltration
Al Mayadeen’s correspondent in Tehran: Explosions heard in the Piroozi, Sabalan, and Sayyad districts of Tehran

Current oil prices of $80-$85P/B comfortable for Russia: Deputy PM

  • By Al Mayadeen English
  • Source: Agencies
  • 1 Aug 2024 17:49
2 Min Read

Recent developments in the oil market such as production cuts and geopolitical issues have reinforced the importance of a stable price range for both producing and consuming nations.

  • x
  • Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP)
    Pump jacks extract oil from beneath the ground in North Dakota, on May 19, 2021. (AP)

Russian Deputy Prime Minister Alexander Novak said on Thursday that the current world oil price range of $80-$85 per barrel is comfortable for the Russian budget, and maintaining the balance of supply and demand is crucial

"I think that this is a normal price, which today is in the range that is comfortable for Russia, for our budget. We previously assumed that it would fluctuate approximately in the corridor of $80-$85. Now this is confirmed. Of course, it cannot stand still. It can fluctuate in one direction or another. The main thing is that the balance of supply and demand is maintained. This is the basis for the stability of the oil price," Novak told the Rossiya 24 broadcaster.

Novak's statement reflects the broader context of global oil markets and Russia's economic strategies.

Related News

Israeli aircraft violate Turkish airspace, fighter jets scrambled

Russia alarmed by Israeli aggression on Iran, sees limits: Bloomberg

Currently, oil prices within this range are seen as beneficial for Russia's budget as they ensure that the country can meet its fiscal needs without exerting undue pressure on its economy.

The price range is considered optimal as it aligns with Russia's budgetary expectations and allows the country to continue funding its national expenditures and economic plans without resorting to extreme measures. 

Read more: Iraq, Kazakhstan to rebalance planned OPEC+ oil cuts

On another note, the global oil market has been influenced by various factors, including production cuts by OPEC+ members and geopolitical tensions, which contribute to the current pricing stability.

On another note, recent developments in the oil market such as production cuts and geopolitical issues have reinforced the importance of a stable price range for both producing and consuming nations.

  • Russia
  • Russian economy
  • Alexander Novak
  • Oil prices

Most Read

Iranian missiles impact Israeli sites in Tel Aviv in 2nd wave

Iran's missiles impact 'strategic' Israeli site in Tel Aviv

  • Politics
  • 14 Jun 2025
Bin Salman: Islamic world backs Iran in call to Pezeshkian

MBS says Islamic world backs Iran in call with Pezeshkian

  • MENA
  • 15 Jun 2025
Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Smoke rises after an Iranian ballistic missile directly struck Tel Aviv, Occupied Palestine, June 13, 2025 (AP)

Op. True Promise 3: Iran's ballistic missiles strike Tel Aviv

  • MENA
  • 13 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A Turkish Air Force pilot gestures from the cockpit of an F-16 military fighter jet before an Air Policing exercise at the Baza 86 military air base, outside Fetesti, Romania, Wednesday, March 6, 2024 (AP)
Politics

Israeli aircraft violate Turkish airspace, fighter jets scrambled

An Israeli occupation forces armored personnel carrier maneuvers in the Gaza Strip, southern occupied Palestine, Wednesday, June 11, 2025 (AP)
Politics

Palestinian resistance downs Israeli drone in Gaza amid extensive ops

An Israeli Hermes 450 UAV drone flies over Beirut, Sunday, Sept. 29, 2024. (AP Photo/Bilal Hussein)
Politics

Iran reports shooting down 28 types of hostile aircraft in 24 hours

Firefighters work to extinguish a blaze after a missile launched from Iran struck Tel Aviv, occupied Palestine, Monday, June 16, 2025 (AP)
Politics

Iran retaliatory strikes target greater Tel Aviv as injuries reported

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS