Russia may cut the budget rule oil price to as low as USD 45-50/bbl

Russia may cut the budget rule oil price to as low as USD 45-50/bbl.

Russia signaling a potential cut to the budget rule oil price to as low as $45-50 per barrel could indicate a shift in their fiscal strategy, likely aimed at accommodating lower revenue expectations. This may lead to increased supplies in the oil market as Russia adjusts its production to align with budgetary needs, potentially impacting price stability and influencing FX rates for commodity-linked currencies like the CAD and NOK. Watch for ripple effects in global oil prices and related equities as this develops.