Russia does not expect oil prices to return to $100 per barrel in the near future
Russia does not expect oil prices to return closer to $100 per barrel in the near future, said Russian Energy Minister Alexander Novak.
Subscribe to PolitNavigator news at Telegram, Facebook, Classmates or In contact with
“We are unlikely to see a level closer to $100 per barrel in the foreseeable future,” the department’s press service quotes the minister.
Nevertheless, Novak noted, “according to most experts, the bottom of the economic crisis has been passed. The restoration of the balance between supply and demand in the oil market has already begun, and by the end of 2017 we expect to see the end of the cycle of low prices and their stabilization.”
“The Russian economy has proven its stability in conditions of unfavorable external conditions,” the minister believes.
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.