Crude oil prices reached a milestone for Moscow this week, climbing up to the level that balances the Russian state budget, but the increase is not expected to weaken Russia’s support for continued production cuts by the Opec-plus group. With Brent at more than $41 per barrel, the price for the Russian Urals crude export blend, which is trading at a premium of about $2/bbl now, stands at some $43/bbl.
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