Russia Boosts Hydrocarbon Exports to India – Novak

 / Go to the mediabankA Russian oil rig. File photo / Go to the mediabankInternationalIndiaAfricaMOSCOW (Sputnik) – Exports of Russian oil and oil products to India increased to 32 million tonnes in 2022, Russian Deputy Prime Minister Alexander Novak said in an interview to the Russian media. “Among the countries where additional volumes of oil and oil products will go are, first of all, China and India. Previously, we practically did not supply these products to India, but last year, exports there amounted to 32 million tonnes, there will be even more this year,” Novak stated.Commenting on energy markets, Deputy PM said that Brent crude oil price will exceed $80 per barrel by the end of the year, adding that the average price of Brent oil for the past six months has been about $80 per barrel.”It is hard to predict. I think that the price will be slightly higher than $80 per barrel, and I hope that demand will still grow in summer,” Novak said.Referring to the planned face-to-face meeting of OPEC+ on June 4, Novak said that it will hardly lead to new steps.Russian Deputy Prime Minister Alexander Novak said on Thursday that he does not expect that a face-to-face meeting of OPEC+ on June 4 made a decision on any new steps.”This will be the first face-to-face meeting in six months, we are waiting, as usual, for an assessment of the situation on the market. But I do not think there will be any new steps,” he stated.


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