The price of a barrel of Brent oil fell again below $30

The price of a barrel of Brent oil fell again below $30

LONDON, January 15. The cost of futures for oil of mark Brent with delivery in March 2016 on the stock exchange ICE in London fell by 3% to $29,8. This is evidenced by data exchange.

Earlier in the course of trading on January 13, Brent crude oil price fell below $30 per barrel for the first time since April 2004

On this background the dollar exchange rate against the ruble on the Moscow stock exchange rose 97 cents to 77,02 roubles, the Euro rate against the ruble rose by 1.25 rubles to rubles. 83,93

Forecast prices

The price of oil within five to seven years will amount to $40-60 per barrel.

See also

Klepach: oil prices could fall below $20 per barrel

This forecast was voiced by former Minister of Finance of the Russian Federation, Chairman of the Committee of civil initiatives Alexei Kudrin. “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

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.

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.

Prices for Brent crude and the dollar. Infographics

See also

From high to collapse: the dynamics of oil prices since 2000