The Ministry of Finance does not exclude that the price of oil could fall to $30 per barrel and stay at that rate for an “extended time.” This was told in an interview with the world economic forum, Deputy Minister of Finance of Russia Maxim Oreshkin, reports TASS.
“There is a stress scenario in which oil will be around 30 [per barrel] for a long time,” he said.
He said that such a scenario exists because the main risk associated with the economy of China. Oreshkin stressed that in the baseline scenario the oil price reaches$ 40-50 per barrel.
Earlier in the day, analysts polled by Reuters lowered its forecasts for oil prices. According to 34 analysts and economists, in 2016 the price of oil will be $to 45.44 per barrel. In July it was $45,51 per barrel. Reuters noted that since the beginning of the year, the average price of Brent was $42,59 per barrel.
Four Federal officials in the interview with “Vedomosti” said that the Ministry of economic development prepared for the period 2017-2019 additional variant of the forecast of the main budget indicators, which laid the price of oil at $50-55 per barrel. The base scenario assumes oil price of $40 per barrel.