Russian Paralympians prepare for PyeongChang 2018 despite IPC suspensionSport March 24, 9:23
Senior Pentagon official calls for information strategy on RussiaWorld March 24, 8:42
South Korea warns North Korea may hold new nuclear test by end of MarchWorld March 24, 7:20
Russian-US experiment to simulate outer space mission named SIRIUSScience & Space March 24, 6:20
Russian research agency selects 10 bids in ‘Flying Car’ contestScience & Space March 24, 5:41
Belarus opens case into plotting riots, 26 suspects detainedWorld March 24, 4:30
Russia chooses new official Olympic kit brandSport March 24, 4:28
Police searching for another suspect in Russia’s ex-MP murder in KievWorld March 24, 2:45
Fourth victim of London attack dies in hospital — policeWorld March 24, 2:42
MOSCOW, June 9 (Itar-Tass) — Russia’s energy agency expects no major fluctuations in oil prices in the middle-term perspective. The oil price will vary around 100 U.S. dollars per barrel, the agency’s head, Leonid Grigoryev, told a briefing on Saturday.
According to the expert, OPEC countries seem to be comfortable in the current price situation. There are enough forces across the globe that are not interested in lower oil prices, he noted.
If the oil price drops below 80 U.S. dollars per barrel, the implementation of President Vladimir Putin’s election pledges seems to be problematic, it not impossible, Grigoryev said. In his words, even proceeds from the sale of state-owned companies will hardly be enough to cover budget losses from lower oil prices.
According to Dmitry Miroshnichenko, a research fellow with the Development Centre of the Higher School of Economics, when the oil price is 100 U.S. dollars per barrel, the rouble exchange rate against the U.S. dollar (1:32) is rather objective, which is beneficial for Russia’s modernization program.
If the situation in Europe worsens over the Greek problems, Russia’s private banks will be the first to be affected by the lack of liquidity. “Now banks have got used to live in conditions of cash inflow and in new conditions they might be stripped of bonds,” Grigoryev said. At the same time, he voiced optimism that the experience of the 2008 recession will help evade serious aftermaths.
Experts arrived at a conclusion that there are no grounds to expect serious crisis phenomena in Russia.