Russia's economy ministry cuts 2025 Brent price forecast by nearly 17%

Russia's economy ministry has cut its forecast for the average price of Brent crude in 2025 by nearly 17% from what it saw the price would be this year in its September calculations, according to documents obtained by Reuters. -snip- The ministry sees the price for Urals, Russia's main blend, at $56 per barrel - against the $69.7 per barrel Russia has based its 2025 budget on - and below the $60 'cut off' price, which determines how much money is sent to the budget reserve National Wealth Fund (NWF). -snip- The price of Urals crude oil is crucial for...