Kudrin: oil price in five to seven years will amount to $40-60 per barrel

Kudrin: oil price in five to seven years will amount to $40-60 per barrel

MOSCOW, January 14. The price of oil within five to seven years will amount to $40-60 per barrel is an optimistic scenario. This forecast was voiced at the Gaidar forum in 2016, organized by the Ranepa and the Gaidar Institute, former Minister of Finance of the Russian Federation, Chairman of the Committee of civil initiatives Alexei Kudrin.

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Klepach: oil prices could fall below $20 per barrel

“The price of oil, I think she’s in the next five to seven years will be in the hallway between $40 and $60. But even today, it’s like saying not safely, with optimism. I think that if we are ready to the range of $20-$30, everything else will be for us premium bonus,” said Kudrin.

Yesterday cost of futures for oil of mark Brent with delivery in February 2016 on the stock exchange ICE in London fell by 3.2% to $29,99 per barrel for the first time since April 2004, but on Thursday corrected by 0.13 percent and stood at $30,52.

Gaidar forum. Second day. Text translation

Stress scenario

The Minister of economic development Alexei Ulyukayev on 13 January said that preparing a stress scenario with oil prices at $25 per barrel. “We are preparing a stress test scenario in order to be prepared for any eventuality… We are now preparing even the calculations at the level of up to $25 per barrel”, – he said.

The Minister added that in such a scenario, the dollar may cost more than 80 rubles.

According to the Deputy Minister of Finance Maxim Oreshkin, the price of oil in 2016 will not exceed $50 per barrel. According to him, the slowdown in oil prices will be affected by three factors: low growth dynamics of the world economy in 2016, reducing the cost of production, structural changes in demand