Central Bank expects oil price at $40 per barrel for next 3 years

Workers look at a drilling rig at a well pad of the Rosneft-owned Prirazlomnoye oil field outside the West Siberian city of Nefteyugansk, Aug. 4, 2016.

Workers look at a drilling rig at a well pad of the Rosneft-owned Prirazlomnoye oil field outside the West Siberian city of Nefteyugansk, Aug. 4, 2016.

Reuters
'We are considering several scenarios of economic development'

The Russian Central Bank expects oil price at $40 per barrel for the next 3 years, the Central Bank Governor Elvira Nabiullina said on Nov. 14.

"We are considering several scenarios of economic development, our base scenario includes $40 per barrel in the next three years," she said.

So far, the price of oil is at around $40 per barrel. The price of futures contract for Brent crude oil with January delivery fell by 1.8 percent to $44.96 per barrel on London’s ICE. The last time price of oil of this class was below the level of $45 per barrel was on Nov. 9.

Source: TASS

Read more: Number of the week: How long until Russia can end its oil dependence?

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