The Finance Ministry believes that the average annual oil price in 2016 at $30-40 per barrel

The Finance Ministry believes that the average annual oil price in 2016 at $30-40 per barrel


MOSCOW, January 17. The average annual price of oil can be set at the level of $30-40 per barrel. Such opinion on air of NTV was stated by the Minister of Finance of the Russian Federation Anton Siluanov.

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“Evaluation average price of $30-40 per barrel is quite possible,” he said.

Previously Siluanov said that the demand and the price of oil in 2016 will keep the decline, in some periods the price of oil will fall below $30 per barrel. In his opinion, it will be due to the presence of large amounts of oil reserves and access to new oil market players, for example, Iran with a volume of 1-1,5 million barrels a day. On Saturday, EU officials announced a full account, on the partial lifting of the sanctions on Tehran after the announcement of the IAEA on Iranian compliance with the requirements to limit its nuclear program.

Earlier, Minister of energy Alexander Novak told journalists on the sidelines of the Gaidar forum, which expects average annual oil price in 2016 in the range of $30-50 per barrel.

According to the Deputy Minister of Finance Maxim Oreshkin at mid-annual price of oil at $40 per barrel, the prospects for economic growth of “around zero”.

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Updated socio-economic forecast by Ministry of economic development on the basis of which are calculated the budget envisages a reduction in GDP by 0.8% against the expected growth by 0.7%; average annual exchange rate of the ruble will amount to 68.2 per RUB/$; the price of oil Urals – $40 per barrel, inflation of 8.5%; the outflow of capital – $50 billion

Budget-2016 assumes prices of $50 per barrel Since the beginning of the 2016 price of Brent fell by 21.3%.

For the volatility of the ruble, there is no reason

The ruble adequate to the current situation, said the Minister of Finance.

“Any drastic changes, peaks, both in one and in the other direction, we do not expect. Now course corresponds to the balance of payments which happened,” he said.

According to the updated socio-economic forecast by Ministry of economic development on the basis of which are calculated the parameters of the budget, the average annual ruble rate will be RUB 68,2/$; the price of Urals oil – $40/barrel, inflation is 8.5%; the outflow of capital – $50 billion Provided for a reduction in GDP by 0.8% against the expected growth by 0.7%.

As previously reported Alesya Ulyukayev, Ministry of economic development and consider the stressful scenario with a price of $25 per barrel and exchange rate of 80 rubles/$.