Russia earned additional $120 bln after OPEC+ deal

25/12/2018 Argaam

 

Russia has earned at least $120 billion over the two years after signing an agreement with OPEC+ countries due to oil price adjustments, Russian TASS news agency reported, citing Russian Energy Minister Alexander Novak.

 

"Over the two years of the agreement with OPEC+, Russia earned at least an additional $120 billion, according to estimates. That's why it is important to assess the effectiveness of cooperation with OPEC countries for the state as a whole," Novak told Kommersant daily in an interview published on Tuesday.

 

Russia and OPEC signed an agreement on cooperating in stabilizing the oil market at the end of 2016. The agreement also includes other non-OPEC countries - Kazakhstan, Azerbaijan, Mexico, Oman and others.

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