Ulyukayev: the oil market will stabilize by the end of the first quarter

The Minister of Economic Development of Russia, Alexei Ulyukayev, expects a stabilization of the situation on the world oil markets at the end of the first quarter of this year.

"Analysts and I share this view, it is expected that by the end of the first quarter the oil market may stabilize,’’  RIA Novosti quotes him as saying.

"By the end of the year  we expect some restorative movement dynamics of the oil prices and the associated price of gas and petroleum products", the minister added.

"We do not expect some jumps in the long term, but, of course, the prices will be significantly higher than today," Ulyukayev said.