Russia plans to reduce oil price to 40 USD/barrel

Baku. 27 March. REPORT.AZ/ According the survey carried out by "Bloomberg" agency, despite the increase in world oil reserves oil prices will be 16% higher than the current level by the end of this year.

Report informs citing the Forexpf.ru, forecasts of Bank of Russia (Central Bank) are more pessimistic.

According to the Bank average price of “Urals” crude oil would be 50 USD/barrel and by the end of the year the price will decline to 40 USD/barrel and remain at his level until the end of 2019.

Notably, Russian Ministry of Finance has set base oil price at 40 USD/barrel in budget calculations.

Rabobank "s specialist on currency markets in London office Peter Mattissaid that it is better to rejoice being conservative rather than disappointed being optimistic.