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Sberbank CEO Gref does not expect oil to drop below $40 per barrel

August 26, 2015, 17:08 UTC+3
German Gref stressed that the he expects the movement of oil prices in the $50-$60 per barrel range
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© Yegor Aleyev/TASS

ZHUKOVSKY (Moscow Region) August 26. /TASS/ Sberbank CEO German Gref does not expect the oil price to fall below $ 40 per barrel, he told journalists on Wednesday at the international aerospace show MAKS-2015.

"We are not pessimists and we do not support the forecast that the oil prices will be at $20 or even $40 per barrel. But it is obvious that the price will not be very high," he said.

Gref also stressed that the he expects the movement of oil prices in the $50-$60 per barrel range.

"The price below $50 in the next year is possible scenario. But it is a matter of chance, and there are less chances that the price will decline," he emphasized.

However, Gref said that he was "not so optimistic" about the economic growth in 2016. "Everything will depend on a number of circumstances, including on what the price of oil will be like," concluded he.

 

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