Russian expert: Oil may fall to 30 USD

Russian expert: Oil may fall to 30 USD
The budget deficit is not compatible with the current economic conditions

Baku. 23 September. REPORT.AZ/ Oil prices might fall below $30 per barrel in the next 20 years.

Report informs citing the Russian media, Chairman of the Centre for Strategic Research Council, former Russian finance minister Alexey Kudrin said in financial forum in Moscow.

The expert expects after fall in oil prices Russia’s budget deficit this year to stand at around 3.7-3.9% of GDP.

"Against background of current oil prices this figure is too high."

What would happen if oil prices fall to 30 USD?

In theory oil prices in the next few years may fall to 30 USD. Personally, I believe in 20 years oil prices would fall below this level. Thus, the increase in supply in the oil market as a result of the crisis in the Chinese economy, and other adverse circumstances give us grounds to say that. We must be ready for it", said A. Kudrin.

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