Novak predicted average annual price for oil at $50 2016

Moscow. December 10. The average annual price of oil in 2016 will hover around $50 a barrel, said energy Minister Alexander Novak.

“I think the average price will be $50 plus or minus,” said the Minister to journalists, adding that talks on the price for Brent.

The Minister recalled that, despite the current level of oil prices around $40 per barrel, the average price this year will be above $50.