Oil price will stay at current level in the second half of 2017, Russian President Vladimir Putin said in his annual press conference.
“It’s difficult to forecast the oil price. The prices depend on a lot of uncertain factors. Energy Ministry has already expressed its guesses. We think the oil price will stabilize at the current level in the second quarter of 2017”.
Putin surely noted that Moscow took right step by joining OPEC decision: “Russia will reduce oil output a little. The agreement on output cut will bring RUB 1.75 trillion to the budget”.
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