Although Merc have won three of the last five grands prix, Mark Webber believes Lotus are Red Bull's biggest threat.
Mercedes have come to the fore in recent races with Nico Rosberg and Lewis Hamilton claiming three of the last five victories.
Their success have put Mercedes firmly in the hunt for the World titles, 69 points behind Red Bull in the teams' race while Hamilton is 48 adrift of Sebastian Vettel in the Drivers' standings.
Webber, though, reckons it is Lotus who pose the bigger threat to Red Bull's title quest as their E21 has proven to be more consistent than the Mercedes.
"I think we had Mercedes covered at the Nurburgring," Webber said. "Budapest; Lewis is very special at Budapest, there's no driver that can really touch him there in my opinion.
"Whereas at some other tracks he's not that strong, but in Budapest he's very, very strong. He proved that in a s**tbox McLaren as well, so when he won in the McLaren he was very, very strong. He's been quick there and he proved that again in the Merc; it was a good win for him.
"Ferrari, Lotus - compared to Mercedes - I think the Lotus is the most stable car across all tracks. Obviously they've been very, very good but just lost a little bit here and there. They've been very strong and a real threat throughout and Ferrari and Mercedes a little bit more [up and down].
"I think Red Bull and Lotus have probably been a sniff more consistent at this stage."
Raikkonen is currently second in the Drivers' Championship, 38 points behind Vettel.