Kazakh govt raises benchmark oil price to $60/bbl in 2018-2020 budget
ASTANA. Oct 11 (Interfax) - The price of oil used as a reference in the Kazakh government's draft budget for 2018-2020 has been increased from $55 to $60/bbl, the Ministry of the National Economy said.
"In the baseline scenario, the oil price has been revised up from $55 to $60 per barrel in 2018," amendments to the draft budget presented in the Majilis on Thursday read.
Earlier, the Minister of the National Economy of Kazakhstan Timur Suleimenov said the government had drafted the budget for 2019 based on a reference price of $60 per barrel and an exchange rate of 350 tenge to the dollar.