Oreshkin: to expect a recovery in oil prices is not worth it


MOSCOW, November 26. To expect a recovery in oil prices is not worth it, we need to adapt to current levels, said Deputy Minister of Finance Maxim Oreshkin, speaking at the conference “Vedomosti”.

“To expect a recovery in oil prices, as well as the entire commodity complex is not worth it. You need to live in these new conditions,” he said.

Previously the Deputy head of the Ministry of Finance declared that considers improbable decrease in world oil prices to $30 per barrel. According to him, the current situation has deteriorated, the prices have to fall to about $30 per barrel. To happen but this scenario can only be due to a sharp global economic slowdown, a sharp slowdown of the U.S. economy, noted..

The Bank of Russia when planning monetary policy also comes from the total that oil prices may remain at low levels in the foreseeable future. According to the pessimistic forecast of the Central Bank, oil prices will be significantly below $40 per barrel.

However, according to the calculations Ministry of economic development, a conservative forecast for 2016 is $40 per barrel.