IS recruiting Taliban fighters in Afghanistan — Russia’s General StaffMilitary & Defense April 26, 18:49
Coffin with presumed remains of 19th century Russian general dug up in TurkeySociety & Culture April 26, 18:26
Russian envoy says enacting nuke ban treaty will lay basis for stable strategic tiesRussian Politics & Diplomacy April 26, 18:13
Tokyo to draw up cooperation plans for South Kurils and heed locals’ opinionsBusiness & Economy April 26, 17:37
Who runs the world? Berlin's W20 women's summit reveals whoWorld April 26, 17:03
Russian defense minister comments on military cooperation with IndiaMilitary & Defense April 26, 16:57
Military brass says Russia playing key role in eliminating terrorists’ chieftains in SyriaMilitary & Defense April 26, 15:36
Porsche renews full cooperation with Maria SharapovaSport April 26, 15:05
Russia’s top diplomat slams attempts to obstruct Syria’s chemical incident probeRussian Politics & Diplomacy April 26, 14:57
MOSCOW, November 26. /TASS/. Oil prices are not expected to recover, Russia’s Finance Minister Maksim Oreshkin said on Thursday, adding that one should adjust to the current levels.
"One should not expect recovery of oil prices as well as of commodities-based industries on the whole, and should adjust to new environment," Oreskin said.
On Wednesday he said the Ministry considers oil price plunge to $30 per barrel very unlikely. "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.
Russia’s Central Bank bases its monetary policy for foreseeable future on low oil prices. According to its worst case scenario, crude oil prices will be substantially below $40 per barrel.
However, the Economic Development Ministry says it bases its conservative forecast for 2016 on $40 per barrel oil price.