At the St. Petersburg International Economic Forum, Russian Deputy Prime Minister Alexander Novak addressed the current state of oil pricing, asserting that the ideal equilibrium price for oil lies around $80 per barrel, allowing for a fluctuation of $5 either way. This price point is deemed satisfactory for both consumers and producers, ensuring that consumers receive fair pricing while enabling producers to execute their investment strategies effectively. Novak emphasized that maintaining this balance is crucial for the stability of the oil market, particularly in the context of ongoing global economic transformations. The forum, which runs from June 3 to June 6, aims to explore new models of global development, reflecting on the changes affecting the world economy. The Roscongress Foundation is the organizing body for this significant event, with TASS acting as its official general information partner, highlighting the importance of these discussions in shaping future economic policies.