Russian Ministry of Finance predicts oil price at $90-95 per barrels by the end of the eyar

The Ministry of Finance predicts the price of oil at the level of $90-95 per barrel by the end of the year, director of the Department of Long-Term Strategic Planning, Maxim Oreshkin told the Izvestia. Earlier, the Ministry of Economic Development determined set a more optimistic forecast of the oil prices in its macroeconomic forecast scenario for 2014-2017 - $100 per barrel.

- Given that the oil prices are now below $100 per barrel and taking into account the increase in the volume of the supply from Libya, it is not quite right to expect the maintenance of $100 per barrel in the conservative scenario, - he says.

Also, the Ministry of Finance doesn’t agree with the thesis of the Ministry of Economic Development that Russia has a chance to develop in a certain fiscal stimulation, as the Deputy Head of the Economic Development Ministry stated yesterday.