The jump in oil prices to $ 50 per barrel is largely speculative in nature. On Thursday, August 18, according to the Rambler News Service with reference to the representative of the Ministry of economic development.
“This growth is largely speculative in nature, associated primarily with the upcoming September OPEC meeting, where will be discussed, including the possible freezing of production”, — said the Agency interlocutor.
However, he noted that the fundamental parameters of the oil market are changing in line with the baseline projections. “We offer excess oil is reduced, but this process will not be completed until next year,” he said.
The Ministry believes that 45-50 dollars per barrel, a sustainable price range for the next year or two.
Previously on August 18, the price of Brent crude oil exceeded $ 50 per barrel.
On 15 August, the Bank published a forecast that in 2017 Russia’s economic growth will reach 0.7 per cent. In 2020, GDP will increase by 2.5 percent. Experts the Corporation has linked the revival of the Russian economy with the recovery in oil prices.
