Cutting oil production under the OPEC+ deal has proven to be a winning strategy for Russia. Thanks to this agreement, mining companies and the budget were able to increase their revenues by $30-40 billion.

The money was divided between oil and gas companies and the state. According to the expert, the population of Russia also received a lot of benefits from the deal, “because it has helped to stabilize the ruble exchange rate.” Experts are confident that thanks to the agreement, oil and gas companies were also able to avoid a tougher increase in the tax burden.

Fitch notes that the OPEC+ deal played a major role in the recovery in commodity prices. A comfortable oil price starts at $50 per barrel for most countries.