Novak announced plans to reduce the discount on oil to $10 per barrel

Russia will seek to reduce the discount on its oil to $10 per barrel. This was announced on February 27 by Deputy Prime Minister Alexander Novak.

"In the best of times, I mean in the pre-sanctions period, we had an oil discount of about $10 per barrel. And we will strive to reduce this figure to about this level," he said during an open meeting with students at Sirius.

The Deputy Prime Minister added that at the moment oil prices from Russia are lower than planned in the forecast of socio-economic development. According to him, this is due to a decrease in the average price of Brent crude oil.

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On the same day, Novak announced that over the past year, Russia had exported 238 million tons of oil and 114 million tons of petroleum products. It was clarified that the main buyers of Russian oil are China and India. In addition, the volume of profitable oil reserves in Russia is estimated at 15 billion tons, and geological recoverable reserves at 31 billion tons.

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