The speaker: stabilization and rising prices in the oil market comes after the first quarter of 2016

The speaker: stabilization and rising prices in the oil market comes after the first quarter of 2016


BEIJING, 16 January. By the end of the first quarter of 2016 world oil prices may stabilize with subsequent growth. This opinion was expressed to journalists the Minister of economic development of Russia Alexei Ulyukayev.

“Analysts, and I share this point of view, expects that by the end of the first quarter could lead to stabilization in the oil market with the further increase in prices,” he said.

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According to him, this will become one of factors of strengthening of the ruble.

The Minister added that by the end of the year, “some restorative movement dynamics of oil prices and related prices for gas and oil products”.

The cost of futures for oil of mark Brent with delivery in March 2016 on the ICE stock exchange in London January 15, dropped to 7.18% to $28,81.

Now the government is correcting macroeconomic forecast for the current year on the basis of which are calculated the parameters of the budget. Budget-2016 assumes prices of $50/bbl., however, it is expected that the Ministry of economic development may reduce the benchmark to $40/bbl. Stress scenario the Central Bank of the Russian Federation proceeds from the $35/bbl.