Novak does not expect falling oil prices to $20-25 per barrel

Novak does not expect falling oil prices to $20-25 per barrel


The average annual oil price, the expectations of the Ministry of energy, will be 50 dollars per barrel, said the Minister Alexander Novak.

MOSCOW, 28 Dec. Minister of energy Alexander Novak does not expect lower oil prices to the level of 20-25 dollars per barrel, while the average price in 2016 could be around $ 50 per barrel.

“I don’t think that the price will decline to this level,” said Novak in an interview with TV channel “Russia 24”, answering the question whether he falling prices to the level of 20-25 dollars per barrel.

The survey

What will happen to oil prices in 2016?

  • Will collapse to $ 20 per barrel
  • Will remain at around 30-35 dollars
  • Edge up to 45-50 dollars
  • Soar to 90-100 dollars

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