The Russian Energy Minister Alexander Novak revealed the appropriate oil price for Russia, and this comes at a time when oil markets are under pressure due to fears on the global economy in light of the Corona crisis.

The Russian minister said, during an interview with "Bloomberg" agency, that the appropriate oil price for Russia is 50 dollars a barrel until the year 2035, noting that the very high oil prices reduce the demand for energy.

The minister explained: "The extremely high oil prices are not good, as they reduce the demand for energy resources, attract to the oil sector ineffective investments, create a surplus in supply and create conditions for a new crisis."

Source: "TASS"

By:Nadeemy Haded

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