Bank of Russia warns of oil declining to $40-45 per barrel

Bank of Russia warns of oil declining to $40-45 per barrel

Short-term global oil prices could decline to $40-45 per barrel, Bank of Russia's First Deputy Governor Ksenia Yudaeva said.

She recalled that the six-month agreement between major oil producers has balanced the market, she said, "however, the range of possible scenarios is fairly large."

"The basic scenario of the Bank of Russia proceeds from the fact that already in the short and medium terms, oil prices will be adjusted at the level of $40-45 per barrel," Sputnik cited Yudaeva as saying.

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