The average world price of oil in 2025 could be around $65 per barrel, while Russian oil could be around $50 per barrel. Gennady Shmal, president of the Union of Oil and Gas Producers of Russia, expressed this opinion at the conference “Neftegazstandard 2025“.
“The issue of forecasting the price of oil is quite complicated. But I believe that the world price of oil will be close to $65 per barrel. And our price, as we know, has, firstly, limitations, and secondly, there is a fairly large discount.“ “Therefore, I think that our oil will cost about 50 USD per barrel“, he said.
At the same time, the agency's source noted that despite the sanctions, Russian oil companies manage to maintain production, and Russian oil finds buyers, including in China and India.
The conference “Neftegazstandard 2025“ is being held in Chelyabinsk from November 19 to 21. It is a discussion platform for specialists from the Russian oil and gas complex and related industries. Current issues in standardization and technical regulation are discussed there.