Kudrin: Oil price may slide below $55 per barrel in a year’s time

Former Finance Minister Alexei Kudrin.

Former Finance Minister Alexei Kudrin.

Komsomolskaya Pravda/Global Look Press
'The oil price will be hovering between $40 and $60 per barrel'

Head of Russia’s Center for Strategic Research (CSR) and ex-Finance Minister Alexei Kudrin says the oil price is likely to slide below $55 per barrel in a year’s time.

"I’ve repeatedly said that the oil price will be hovering between $40 and $60 per barrel. Given the recent initiatives on the market I expect the (oil) price to be close to $55-56 per barrel within half a year, though it may still go down in about a year's time," he said in an interview with TASS.

On Feb. 27, Gazprom Board Chairman Viktor Zubkov told TASS, that the oil price of $60 per barrel is suitable for consumers and for producers.

"Calculations show that if OPEC countries abide by and do not violate the agreement [on oil production limiting - TASS], then the oil price may even grow to $60 [per barrel]. This should suit everyone because this is a normal price in such conditions," Zubkov said

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