The Ministry of Finance considers very probable the realization of a stress scenario with oil price at $ 30 per barrel in the next few years. With such pessimistic forecast, as the video News Service, Deputy Minister of Finance Maxim Oreshkin at the annual conference of Fitch ratings Agency.
The official reminded that the draft budget for 2017-2019, which will be submitted to the state Duma in mid-October, calculated from prices of $ 40 per barrel (this year’s budget was planned, based on the price of $ 50). Thus, according to him, the lower price level ($40) makes it easier to adapt to the stress scenario.
According to the Federal customs service, in January-July 2016 revenue from Russian oil exports fell 30 per cent to 39.4 billion, compared with 56.2 per billion over the same period last year.
In April this year, Minister of energy of Russia Alexander Novak said that the cost of production of Russian oil ranges from 2 to 15 dollars per barrel. According to Novak, this level allows Russian oil companies to survive in almost any commodity price environment.
On the morning of Wednesday, September 14, at the London exchange ICE November futures for Brent crude oil traded at $ 47 a barrel.
