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Russian Economic Development Ministry may review oil prices forecast after 1H 2015

According to Deputy Minister of Economic Development, now the average annual price stands at $52 per barrel, while the base-case scenario which is the basis for 2015 budget, implies $50 per barrel

© Maxim Slutsky/TASS

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MOSCOW, March 27. /TASS/. Russian Economic Development Ministry may review oil prices forecast in the current year following the results of the first half of 2015, Deputy Minister of Economic Development Alexey Vedev said Friday.

Currently, the average annual price stands at $52 per barrel, while the base-case scenario which is the basis for 2015 budget, implies $50 per barrel, Vedev said.

"We’re still keeping the base-case scenario. Of course, we can’t flounce and review forecasts every month. I think that we should at least wait for 1H results and then [will be able to decide whether to] review it or not," he said.

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