Head of Russian Audit Chamber predicts increase in oil prices over next few years

Baku. 27 September. REPORT.AZ/ Oil prices can rise for 2-3 years, head of the Russian Audit Chamber Alexei Kudrin said live on Rossiya 24 channel.

Report informs that Kudrin was commenting on the possibility of maintaining the trend for the growth of oil quotations.

"Now we predict a slight increase in oil price. I think this can happen even for the next 2-3 years. During this time, the demand for oil will increase by more than 3 million barrels per year”,  Kudrin said. At the same time, he said the proposal from Iran and the US cannot fully meet the demand.

"That's why we think that the oil price will rise somewhat," he added.

According to the head of the Audit Chamber, the rise in prices will have a positive influence on economy, therefore part of the revenues will remain with the oil companies, they will invest more, "and maybe not only in the extractive industry”.

Notably, on September 25, the price of Brent oil exceeded $ 82 per barrel for the first time since November 12, 2014.