S&P expects Brent to be $40 per barrel in 2016

Standard & Poor's agency downgraded its oil price forecasts for Brent crude to $40 per barrel for the rest of this year, $45 per barrel for 2017 and $50 per barrel in 2018, Interfax reports.

Recall that Russia's state budget for 2016 was developed on the basis of $50 per barrel.