Energy Minister of the Russian Federation retains the forecast for oil prices in 2016 in the range of $ 40-50 per barrel, Alexander Novak said after talks with Minister of Communications and Information Technology of Iran, co-chair of the Intergovernmental Russian-Iranian commission, Mahmoud Vaezi.
“The forecasts we made that oil will be between 40 and 50$ per barrel correspond to reality,” – he said.
Novak added that the outlook for the balancing of the market has not changed – the middle of 2017.
Today, the cost of the futures on Brent crude for delivery in September 2016 on the ICE exchange in London fell 2% compared to the closing level, to 41.86 dollars per barrel. Thus, oil prices fell below 42 dollars for the first time since April 18.
The post Oil price forecast kept at $ 40-50 per barrel in 2016 – Novak appeared first on forex-analytics.press.