MOSCOW, April 21. /TASS/. Russia’s Economic Development Ministry has lowered the average annual forecast for the price of Brent oil in 2025 from $81.7 to $68 per barrel, as follows from the draft scenario conditions for the socio-economic development of the Russian Federation for 2025-2026 and for the planning period of 2027-2028.
As a representative of the ministry told reporters, the document has been submitted to the government for consideration.
"The average annual price of Brent crude oil in 2025 is expected to be $68 per barrel, and in 2026-2028 - $72 per barrel, respectively," the document notes.
The forecast expectations for the price of Russian Urals crude oil in 2025 are $56 per barrel. For the period 2026-2028, the price is expected to be in the range of $61, $63 and $65 per barrel, respectively.
"We have lowered the expected Brent price for this year to $68 per barrel. We believe that this is a fairly conservative estimate, but taking into account the budget rule, taking into account the National Wealth Fund, it is realistic. The conservative scenario assumes a lower oil price," the representative of the ministry said.