Oil prices are unlikely to be high in the short term, in the first half of the year it will average just below $ 40 per barrel. On Tuesday, April 12, said the Russian energy Minister Alexander Novak, the correspondent reports “Lenty.ru” with the Exchange forum.
In the second half of the year the prices can grow up to 40-45 dollars per barrel, and by the end of the year reached $ 50. In 2017-2018 year oil, according to Novak, the price will rise to 60-65 dollars per barrel.
The Minister also noted that Russia in 2016 will increase the production of energy in all directions. Oil production should amount to 537 million tonnes, slightly more than last year.
The head of Ministry expressed hope that the meeting in Doha, the main oil producers will be able to agree to freeze production. He added that the overproduction of this year is 1.5-1.8 million barrels per day.
April 17 in the Qatari capital of Doha to meet the largest oil producers. They will discuss the issue of freezing the production. Saudi Arabia, Qatar, Russia and Venezuela have agreed to limit production to the level of January of the current year. Also expressed their willingness to join the agreement Ecuador, Algeria, Nigeria, Oman, Kuwait, UAE.
In the course of trading on 12 April on the ICE stock exchange in London oil prices rose about half a cent to 43,43 USD per barrel. Since the beginning of the year, it has increased in price more than on 10 dollars.
