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MOSCOW, August 23 (Itar-Tass) —— The average price of oil in 2012 is expected to be 109 U.S. dollars per barrel, according to Deputy Minister of Economic Development Andrei Klepach.
This year’s budget is based on the oil price of 115 U.S. dollars per barrel.
In 2011, the average price of oil was 109.3 U.S. dollars per barrel.