Russia Forecasts Oil Price At $50
October 8, 2019
Russia, one of the world’s biggest energy producers, is basing its economic forecasting on an oil price of $50 per barrel, Energy Minister Alexander Novak said Tuesday.
“We believe that in the medium term, oil prices will be around $50,” Novak said in an interview with Rossiya 24 state television, adding this was a “conservative scenario”.
“Our forecast of (Russia’s) socio-economic development is based on this price,” he said.