. S&P Global Commodity Insights estimates Russia’s fiscal breakeven oil price at $114/b in 2023, up from $64.47/b before its invasion of Ukraine, as the Kremlin’s outgoings to fund the war add to its overall budget spending. By comparison, OPEC+ kingpin Saudi Arabia’s fiscal breakeven has remained relatively steady at a forecast $78/b for 2023, compared with $80.38/b in 2021, according to S&P Global.
“Russia’s dependence on oil revenue is only increasing as spending requirements grow due to the war and non-energy sanctions begin to bite,” said Paul Sheldon, chief geopolitical advisor at S&P Global. “This will make it even more reluctant to voluntarily curtail supply.”
“S&P Global Commodity Insights estimates Russia’s fiscal breakeven oil price at $114/b in 2023, up from $64.47/b before its invasion of Ukraine, as the Kremlin’s outgoings to fund the war add to its overall budget spending.”
I’m surprised that you fell for that propaganda, unless you really do believe DeSantis when he said “Russia is a gas station masquerading as a country”. In other words, Russia exports FAR MORE than just oil. Also, what I read a while ago was that Russia uses $45/barrel as its assumed price when putting together a budget - anything extra is used to liberate countries from the grip of the Neocons.
Now tell us again that the Russians are out of missiles ;)