By Eliza Popova
Thus, according to the Vice Prime Minister of the country Alexander Novak, the oil workers allegedly decide whether to reduce oil production in the last month of summer. But Novak himself confessed that the main task is to reduce deliveries to the world markets. According to sources, it is about export of oil from the Western ports of Russia (in particular, in the Baltic Sea). In August, exports, according to preliminary data, will be reduced by 100-200 thousand barrels a day compared to July.
"This is a sign that Moscow fulfills its promise for new reductions in tandem with OPEC head and Saudi Arabia," the agency writes. It is noted that total exports of oil and petroleum products from Russia can be about 7 million barrels per day. It is impossible to confirm or refute this data as Moscow hides the level of oil production. Meanwhile, OPEC and other large manufacturers have been dealing with deliveries since last fall, as they fear that world oil prices will fall.
For Russia, this issue is very delicate: if the country earned oil dollars in 2022 in the conditions of sanctions, then with the fall of the price of oil in 2023 the budget indicators of the Russian Federation began to deteriorate. We will remind, on July 13, Bloomberg reported that the reference Russian oil of the brand Urals is sold more expensive than the ceiling of prices, which was established by the G7 countries.
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