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Aleksandr Novak: Oil Prices Are Unlikely To Be High
14.04.2016 09:27
Aleksandr Novak: Oil Prices Are Unlikely To Be High

Oil prices are unlikely to be high in the short term, in the first half of the year they will amount to an average of a little less than $ 40 per barrel. This was told by the Russian Energy Minister Aleksandr Novak to the correspondent of “” from the Exchange Forum on Tuesday, April 12.

      In the second half of the year prices could rise to 40-45 dollars per barrel and reach $ 50 by the end of the year. In 2017-2018 the oil price, according to Novak, will rise to 60-65 dollars per barrel. The Minister also noted that in 2016 Russia would increase the production of energy in all directions. Oil production should reach 537 million tons, which is slightly higher than in last year. The Head of the Energy Ministry expressed hope that the main oil producers would be able to agree on a production freeze at the meeting in Doha. He added that overproduction amounts to 1.5-1.8 million barrels per day in the current year.


Author: Anna Dorozhkina


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