| Russia desperately needs high oil prices to lift its energy-fuelled economy out of recession. But according to some of Europe’s top oil executives and ministers who attended Russia’s version of the World Economic Forum in Davos, there will be no return to triple-digit oil any time soon.
Speaking on a panel at the St. Petersburg International Economic Forum (SPIEF), the showpiece business and investment conference of Russian President Vladimir Putin, Russian Energy Minister Alexander Novak said oil at about $65 (all figures U.S.) a barrel could endure for “two to three years.”..............................................Full Article: Source
|