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Russia’s Economy Ministry may raise oil price outlook

July 10, 17:29 UTC+3
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YEKATERINBURG, July 10. /TASS/. Russia’s Economic Development Ministry may raise its outlook for average annual oil price, the Minister Maksim Oreshkin said on the sidelines of Innoprom-2017, one of the country’s largest industrial exhibitions, on Monday.

Nevertheless, Oreshkin admitted, "there are risks" that the oil price will slide below its current level by the end of this year.

The price of Brent crude oil has dropped 18.4% year-to-date to $46.35 per barrel. In early 2017, the price of Brent crude oil amounted to $57 per barrel, a 53% increase compared with early 2016.

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