Export price of Russian oil expected at $65/bbl in 2024-2027 - Econ Ministry

MOSCOW. April 23 (Interfax) - The export price of Russian oil in the next four years is expected to be $65 per barrel in the baseline scenario, a Russian Economic Development Ministry spokesperson told reporters.

The Econ Ministry presented the macro forecast for 2024-2027 at a cabinet meeting on Tuesday

The ministry's previous forecast in September assumed the export price of Russian oil would be $71.3/bbl in 2024, then $70.1/bbl in 2025 and $70/bbl in 2026.

The ministry now forecasts the price of Brent crude at $79.5/bbl in 2024, down from the September forecast of $85, then $75.1/bbl in 2025 ($80.2), $72/bbl in 2026 ($76.2) and $71.2/bbl in 2027.