Gref: it is unlikely that oil will drop below 40 dollars

The President and Chairman of the Board of Sberbank of Russia, German Gref, does not forecast a drop in oil prices below 40 dollars per barrel.

"We are not pessimists and do not support a forecast that the price will be 20 dollars or even 40 dollars," he said, adding that "the price will not be very high."

According to Gref, oil quotations will move in the corridor of 50-60 dollars per barrel.