Russian Accounts Chamber’s head: oil price to rise within 2-3 years

Head of Russia’s Accounts Chamber Alexei Kudrin expects the oil price will rise in coming 2-3 years.

"So far we project a certain rise in the oil price. I think it may happen for 2-3 years," Kudrin said in an interview aired by the Rossiya-24 TV news channel when asked whether the trend of growing oil prices will persist.

According to him, the oil demand is going to rise by over 3 million barrels per year within the next three years.

The head of Russia’s Accounts Chamber added that after a three-year period the oil price may go down, TASS reported.