Russia’s Novak says oil companies, state yield $43 billion from OPEC deal
Russian oil companies and the state budget have gained around $43 billion (30.99 billion pounds) so far thanks to a deal with OPEC to cut oil production, Russian Energy Minister Alexander Novak said on Tuesday, according to RIA news agency.
He was quoted as saying that additional gains from the deal for domestic companies totalled 700 billion roubles (8.72 billion pounds), while the budget had gained 1.7 trillion roubles.
The agreement has been in place since the start of 2017.
Source: Reuters (Writing by Vladimir Soldatkin; Editing by Dale Hudson)