Bank of Russia raises forecast for average price of Urals oil for 2021

The Bank of Russia (the Russian Central Bank) has raised its forecast for the average annual price for Urals oil in 2021 to $50 per barrel from $45, Report informs referring to Prime agency.

According to the Central Bank’s medium-term forecast, in 2022 and 2023, the average annual price for Urals oil will also be at $50 per barrel.

Earlier, the Central Bank predicted that this indicator in 2022 and 2023 would be $45 and $50 per barrel, respectively.