Siluanov allowed the reduction of oil prices in certain periods 2016 to $30


Moscow. December 12. The Russian Finance Minister Anton Siluanov believes that in 2016 the price of oil in certain periods can drop to $30.

“We didn’t manage to adopt the budget, we see that the situation with the macroeconomic changes. Changes not for the better. Oil prices we have budgeted $50 per barrel, now for about $36-37 per barrel. It is unclear what will happen next,” he said at the Board meeting of financial, Treasury and tax authorities of Tatarstan on Saturday.

According to Siluanov, the price reduction can influence, in particular, the observed overproduction of oil in the world, and access to the Iranian market.

“All the evidence suggests that low oil prices are likely next year to dominate and it is possible that during certain periods it will be, maybe, $30 a barrel, maybe less, we don’t know, – said the Minister. – Because a year ago if we were told that it would be below 40, everyone would probably just laugh. So you need to prepare for such difficult times for us”.