Minister of Economic Development does not believe in oil for 40 dollars

The conservative scenario of the Ministry of Economic Development lays the price of oil at 40 per barrel, because lower price is not needed for forecasts, the Minister of Economic Development Alexei Ulyukayev stated today.

Commenting on the statement of the Central Bank of Russia (CBR) on the worst-case scenario in which the financial regulator considers a variant when oil prices will be "significantly below 40dollars", the Minister of Economic Development said: "We are not considering such a scenario. Our conservative forecast is 40 dollars per barrel," - Interfax quoted the minister as saying.