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 (Pakistan Point 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.