13.10.2014 - Oil price unlikely to go down to $60 per barrel
The oil price on the international market is unlikely to drop to $60 per barrel, although it may go down for some time to $80-$85, but should stabilize around $90, says Russian Finance Ministry long-term strategic planning department head Maxim Oreshkin. "I don't really believe in $60. What looks more realistic is $90, and we already talked about this level. When oil cost $100, we said that $90 was the level where it could stabilize. It goes without saying that we could drop to $85 or $80 for a short period of time, but we will orient ourselves at $90 in the midterm," Oreshkin told journalists. To make forecasts regarding oil prices, it is important to understand the causes of and the nature of price shocks, Oreshkin said...............................................Full Article: Source
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