Russia’s Minister: OPEC deal will not affect Russia’s budget – TASS

In an interview with the Rossiya 24 TV channel late-Thursday, Russia’s Natural Resources Minister Sergey Donskoy noted that he expects the OPEC oil output cut deal to have little impact on the volume of contributions from auctions for subsoil use to the federal budget.

Key Quotes:

"As for contributions to the budget - we, at least in the Ministry of Environment and Natural Resources, does not expect it."

"They [agreements on oil production cut] won’t affect the decision of companies on whether to participate or not in auctions. That is absolutely another long-term strategy."

2016 was "an amazing and eventful year for both for OPEC, Russia and global oil and gas industry."