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MOSCOW, November 7. /TASS/. The head of the Committee for Civil Initiatives, a public organization, ex-Russian Finance Minister Alexey Kudrin, said Friday oil prices may grow in the short term but will decline in the long term.
“[Oil prices may grow] in the short term, depending on global market fluctuations and the monetary and credit policy,” Kudrin told the Rossiya 24 TV channel. “[But] in the next 3-4 years, the price may go up.”
He said the price in real terms will go down but in nominal terms will remain the same over a 20-year period.