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Russian finance minister calls oil price of $45 'balanced'
December 28, 2016 / 4:37 PM / a year ago

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

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.

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

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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