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Russia's ex-finance minister: Oil price to stay at $40-60 per barrel in next five years

May 02, 12:31 UTC+3 MOSCOW
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MOSCOW, May 2. /TASS/. World oil prices will fluctuate within the range of $40-60 per barrel in the next five years, Russian ex-finance minister Alexei Kudrin told TASS on Tuesday.

"My forecast remains: the oil price will fluctuate within the range of $40-60 per barrel in the next 4-5 years. This will be a period of movement towards a new equilibrium," Kudrin said.

Even if the world oil price drops below $40 per barrel, Russia will all the same be able to easily administer the level of expenditures calculated at the oil price of $45 per barrel, the ex-finance minister said.

"We have reserves and the National Welfare Fund. We can borrow on the market within reasonable limits after all. But I believe that the oil price will be at the level of $45 and higher," Kudrin said.

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