Russian Economy Ministry Forecasts Oil Price In Long Term At $50 Per Barrel - Oreshkin

Fahad Shabbir (@FahadShabbir) Published November 22, 2018 | 04:06 PM

Russian Economy Ministry Forecasts Oil Price in Long Term at $50 Per Barrel - Oreshkin

Russia's Economic Development Ministry forecasts the oil price at about $50 per barrel in the long term, Minister Maxim Oreshkin told reporters Thursday.

MOSCOW (UrduPoint News / Sputnik - 22nd November, 2018) Russia's Economic Development Ministry forecasts the oil price at about $50 per barrel in the long term, Minister Maxim Oreshkin told reporters Thursday.

"We expect a rather serious decline and a rather low level of prices for basic commodities in the long term. According to our estimates, by 2025-2030 prices will be at about $50 per barrel and will continue to remain at that level in real terms," Oreshkin said.

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