Putin blasts Lithuania’s ‘idiotic conclusion’ about Russian judges being threat to VilniusRussian Politics & Diplomacy December 06, 16:38
Court refuses to summon Chechen leader Kadyrov for questioning in Nemtsov murder caseRussian Politics & Diplomacy December 06, 16:00
Spain becomes most popular foreign destination for Russian touristsSociety & Culture December 06, 15:52
Putin urges to prevent erosion of Russian ConstitutionRussian Politics & Diplomacy December 06, 15:40
Alexander Van der Bellen wins presidential election in AustriaWorld December 06, 15:33
Nurses killed in Aleppo hospital attack to be buried with military honorsWorld December 06, 15:26
Putin says Russia’s legal framework changes too quicklyRussian Politics & Diplomacy December 06, 15:10
Syrian authorities rule out ceasefire if militants refuse to leave Aleppo — ministryWorld December 06, 14:55
Turkish PM praises Moscow, Ankara efforts in fight against terrorismWorld December 06, 14:36
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.