Russia Hints at Changing Oil Price Level in Its Budget Rule

Russia could consider adjusting the oil price level in its so-called budget rule amid falling oil prices, Finance Minister Anton Siluanov said on Wednesday. Under the budget rule, Russia has a baseline price of $60 per barrel of oil, above which it funnels excess revenue to its National Wealth Fund, a rainy-day reserves fund. However, when the price is below $60 per barrel – as Russia’s crude grades have been for two months now – Russia taps into the fund to offset shortfalls in revenue from oil and gas exports. Changing the so-called…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com