Russian Deputy Prime Minister Novak named a condition under which oil prices will rise to $200 per barrel.

He believes that this is possible if funding for new oil projects is terminated. “I cannot imagine that investments in new oil projects will stop from tomorrow. Well, what will happen? Oil prices will probably be $200, or gas prices will skyrocket. Volatility will rise,” he commented on a recent proposal by the IEA.

Earlier, Russian Energy Minister Shulginov spoke about oil at $100. He considered the rise in prices to such a level unlikely in the next three years. He clarified that, on the one hand, the United States introduced stimulating measures, and the demand for oil increased, but, on the other hand, OPEC+ continues the policy of balancing supply and demand, so there is nowhere to expect sharp changes in oil prices.