Russian Energy Ministry gives oil price forecast

The Russian Energy Ministry still expects oil prices to stay in a range of $50-60 per barrel in 2018, the country's energy minister Alexander Novak said on the sidelines of the summit of the Gas Exporting Countries Forum.

"I am still of the same opinion that the price will stand between $50 and $60 per barrel next year. We’ve mentioned such prices for 2017 and for 2018,” Prime cited Novak as saying.

Putting an exact sum is difficult, and according to Novak, the range "is the most balanced price".