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 Russian budget to lose $135 billion at the price of oil at $55 - OPEC

нефть oil

According to the Organization of Petroleum Exporting Countries, if the oil price stays at the current $55 per barrel for a year, Russia will earn around $135 billion less.

The OPEC's report notes that the oil price slump for every $1 (per barrel - ed.) reduces Russia's revenues from oil exports by $3 billion, Censor.NET informs citing ZN.UA. This means that if the world oil price stays at the current $55 per barrel for a year, Russia will earn around $135 billion less in 2015 than in 2014.

According to the Russia's Federal Customs Service, the Russian Federation has exported crude oil worth of $7.9 billion in January 2015 (it was $13.5 billion in January 2014), oil products to the amount of $7 billion ($8.1 billion respectively) natural gas - $4 billion ($6.9 billion).

Read also: Russian economy will lose $160 billion annually if the oil price slumps to $45 per barrel - the Central Bank of Russia head

 
 
 
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