| The Russian Economy Ministry said in a statement it expected crude oil prices to remain stable at their current range of US$45-50 over the next two years, with a sustainable improvement beginning in late 2017.
The latest rally in prices, according to the ministry’s statement, has “a speculative nature” and will not last long. This was proven yesterday when the American Petroleum Institute released its weekly report on inventories, stunning the market with a 4.46-million-barrel buildup, when almost all analysts expected a draw and the only group – polled by S&P – that forecast an increase was much more modest in its expectations, at a build of 200,000 barrels...............................................Full Article: Source
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