MOSCOW, February 14 – RIA Novosti. The oil market is now balanced, and the current oil price corresponds to the situation on it, said Russian Deputy Prime Minister Alexander Novak.
“The last few months we have been observing low volatility, which means that the market is balanced, and the prices that we see in the market today, they certainly correspond to the market situation,” Novak said in the program “Characters from Nailya Asker-zade “on the TV channel” Russia 1 “.
The Deputy Prime Minister also added that the average oil price in 2021 could be in the range of about $ 45 to $ 60 per barrel.
Brent crude is currently trading at around $ 62 per barrel.