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Russian finance minister calls oil price of $45 'balanced'
December 28, 2016 / 4:37 PM / in 10 months

Russian finance minister calls oil price of $45 'balanced'

Russian Finance Minister Anton Siluanov attends an international conference dedicated to the 175th anniversary of Sberbank in Moscow, Russia November 10, 2016. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Russian Finance Minister Anton Siluanov on Wednesday said a price of $45 per barrel of oil was “balanced” for both suppliers and consumers.

In an interview with the Rossiya-24 state TV channel, he also said that budget revenues from oil and gas sales had dropped by 18 percent this year due to weaker prices.

Benchmark Brent crude oil front-month futures LCOc1 currently trade at over $56 per barrel.

Reporting by Vladimir Soldatkin; Editing by Kevin Liffey

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