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Russia increases hydrocarbon exports to India – Novak

MOSCOW (Sputnik) – Exports of Russian oil and petroleum products to India have increased to 32 million tons in 2022, Russian Deputy Prime Minister Alexander Novak said in an interview with Russian media.

“Among the countries to which additional volumes of oil and oil products will go, first of all, there are China and India. Previously, we practically did not supply these products to India, but last year , exports there amounted to 32 million tons, there will be even more this year,” Novak said.

Commenting on energy markets, the Deputy Prime Minister said the price of Brent crude oil will exceed $80 per barrel by the end of the year, adding that the average price of Brent oil over the last six month was around $80 a barrel.

“It’s hard to predict. I think the price will be slightly above $80 a barrel, and hopefully demand will continue to grow in the summer,” Novak said.

Referring to the face-to-face OPEC+ meeting scheduled for June 4, Novak said it would hardly lead to further steps.

Russian Deputy Prime Minister Alexander Novak said on Thursday he did not expect a face-to-face OPEC+ meeting on June 4 to make a decision on further action.

“It will be the first face-to-face for six months, we are waiting, as usual, for an assessment of the situation in the market. But I don’t think there will be any further steps,” he said. he declares.

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