The ministers also signed a Declaration of Russia and Syria on Ways and Means of Countering, Mitigating and Compensating the Negative Consequences of Unilateral Coercive Measures.

Brent gained 80 cents, or 1.08%, to $74.70 a barrel, WTI gained 85 cents, or 1.21%, to $70.95.

Brent leapt $1, or 1.36%, to $74.56 a barrel, WTI spiked $1.07, or 1.53%, to $70.9.

Russia is now at a crossroads between a “soft” and “hard” economic landing next year,

Brent edged up 7 cents, or 0.1%, to $71.77 a barrel, WTI gained 8 cents, or 0.12%, to $68.25.

Global oil demand is now expected to grow by 0.9 to 1.2 million barrels per day (mbpd) in 2024, down from previous estimates of 1 to 1.3 mbpd, as per the poll.

"We can live through any price," Novak told Al Arabiya News in an interview published on Monday.

Россия планирует до 2050 года сохранять полку добычи нефти на уровне 540 млн тонн в год, заявил первый заместитель министра энергетики Павел Сорокин на полях РЭН.

Brent increased 51 cents, or 0.71%, to $72.49 a barrel, WTI added 43 cents, or 0.63%, to $68.61 a barrel.

Energy ministry expected Russia to produce 540 million metric tons of oil in 2030 (10.8 million barrels per day), up from 531 million tons in 2023.

The shift in thinking represents a major change of tack for Saudi Arabia, which has led other Opec+ members in repeatedly cutting output since November 2022 in an attempt to maintain high prices.

Brent were up 69 cents, or 0.93%, at $74.59 a barrel, WTI rose 74 cents, or 1.05%, to $71.11.

Brent were up 99 cents, or 1.39%, at $72.05 a barrel, WTI rose $1, or 1.48%, to $68.67 a barrel.

In recognition of this strengthened resolve and renewed firm commitment, the eight participating countries have agreed to extend their additional voluntary production cuts of 2.2 million barrels per day for two months until the end of November 2024,

Ожидаемый объем дополнительных нефтегазовых доходов федерального бюджета прогнозируется в сентябре 2024 года в размере 162,0 млрд руб.