Russian Government Expects Oil Prices To Fall

From RT

The Russian Government has revised the Urals oil price forecast from $100 to $115 per barrel in 2012, pointing out oil prices would decline in the second half of the year.

“Probably the oil prices are on the cycle peak now,” said Elvira Nabiullina, Russian Minister of Economic Development. “In September we estimated oil prices at $100 per barrel, but high prices in the first quarter would provide a price at $115 even with a drop during the year”.

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© 2013 Energy Tribune

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