Oil may be at $55-$60 in 2016 - Klepach
ST. PETERSBURG. Oct 19 (Interfax) - The price of oil may amount to $55-$60 per barrel in 2016, VTB Deputy CEO Andrei Klepach said.
"I think that it will increase, most likely, to $55-$60. [An increase] is more likely than the price remaining in place. For the time being it will fluctuate around $50, perhaps lower, perhaps a little higher. There is an oversupply of oil, it hasn't gone anywhere, it will remain until the end of next year," Klepach told journalists in St. Petersburg on Monday on the sidelines of a forum on strategic planning in Russian regions and cities.
Klepach did not specify a price level that would be "positive" for Russia. "What should be considered a positive forecast for the price of oil? Even if it doesn't go up, that can also be positive, if we adapt to these conditions," Klepach said.
Klepach did not provide a forecast for the ruble exchange rate against the dollar or euro.