Russian finance minister calls oil price of $45 'balanced'

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Russian Finance Minister Anton Siluanov attends an international conference dedicated to the 175th anniversary of Sberbank in Moscow, Russia November 10, 2016. REUTERS/Sergei Karpukhin (Copyright Reuters 2016)

Russian Finance Minister Anton Siluanov on Wednesday said a price of $45 per barrel of oil was "balanced" for both suppliers and consumers.

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In an interview with the Rossiya-24 state TV channel, he also said that budget revenues from oil and gas sales had dropped by 18 percent this year due to weaker prices.

Benchmark Brent crude oil front-month futures currently trade at over $56 per barrel.

(Reporting by Vladimir Soldatkin; Editing by Kevin Liffey)