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Oil price plunge to $30 per barrel unlikely — Deputy Finance Minister

November 25, 2015, 15:52 UTC+3 MOSCOW
This scenario is only likely in case of a sharp slowdown of the global economic growth and a sharp slowdown of the US economy, Maxim Oreshkin says
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© Sergei Bobylev/TASS

MOSCOW, November 25. /TASS/. Russia’s Finance Ministry considers oil price plunge to $30 per barrel very unlikely, Deputy Minister Maxim Oreshkin said on Wednesday.

"We’re facing oil (price) at around $40 per barrel while prices should go down to around $30 per barrel for the current situation to worsen. But this scenario is only likely in case of a sharp slowdown of the global economic growth and a sharp slowdown of the US economy," Deputy Minister said.

Speaking about capital outflow from the Russian Federation Oreshkin said that it has been substantially decreasing. Thus, at the beginning of the year the Ministry forecasted capital outflow to reach around $70-80 bln though now the forecast stands at $60-65 bln.

"This demonstrates that Russian companies have been able to partially refinance their debts and we’re not witnessing further worsening of external situation," he said.

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