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World oil prices

Russia’s confirmed macroeconomic forecast for 2015 based on $50 oil price

This stement was made by Economic Development Minister, he added that the ministry has reviewed its forecasts for this year, as well as for 2016 and 2017

Alexey Ulyukayev Mikhail Metsel/TASS

Alexey Ulyukayev

© Mikhail Metsel/TASS

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MOSCOW, January 29. /TASS/. Russia’s confirmed macroeconomic forecast for 2015 is based on $50 a barrel oil price, Russian Economic Development Minister Alexey Ulyukayev said on Thursday.

"The macroeconomic forecast for 2015 is based on $50 a barrel oil price," Ulyukaev said, adding that the ministry has reviewed its forecasts for this year, as well as for 2016 and 2017.

The minister also said that though $50 a barrel oil forecast might seem too conservative, a consensus of investment banks and analysts opinions forecast an average of $60 a barrel.

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