Russia has earned at least $120 billion over the two years after signing an agreement with OPEC+ countries due to oil price adjustments, Russian Energy Minister Alexander Novak told Kommersant daily in an interview published on Tuesday, Trend reports referring to TASS.
"Over the two years of the agreement with OPEC+, Russia earned at least an additional $120 billion, according to estimates. That's why it is important to assess the effectiveness of cooperation with OPEC countries for the state as a whole," Novak said.
The energy minister talked about smaller numbers before. He told Rossiya 24 TV channel on December 13 that Russian oil companies earned an additional 2 trillion rubles ($29 billion) since the agreement was signed, and the federal budget received around 5 trillion rubles ($72.9 billion).
Russia and OPEC signed an agreement on cooperating in stabilizing the oil market at the end of 2016. The agreement also includes other non-OPEC countries - Kazakhstan, Azerbaijan, Mexico, Oman and others.