OREANDA-NEWS. There is a likelihood of a renewal of the agreement between Russia and the Organization of Petroleum Exporting Countries (OPEC). This was stated by the First Deputy Prime Minister of Russia Andrey Belousov. According to the politician, contacts with the organization are maintained and “everything is possible.”

Belousov also said that Russia will have to live in a new “sustainable reality” for some time with an oil price of 35 US dollars per barrel. Prices cannot stay at 20 dollars for a long time, he specified.

Russian Energy Minister Alexander Novak reported that, according to the agency’s calculations, in the second half of 2020, the oil price may rise to 40–45 dollars per barrel. He emphasized that at present it is difficult to say how the situation will develop, but this forecast was made on the basis of the available information.