26 Dec 2014 10:14

Oil prices may fall further, but will climb back to $80 per barrel - Dvorkovich

MOSCOW. Dec 26 (Interfax) - Oil prices will remain low for the next few months but after that will inevitably increase, Deputy Prime Minister Arkady Dvorkovich said.

"Most likely, oil prices will remain low for several months and probably even go lower. That is true. But after a certain interval prices will most likely rise compared with today's level, to $80 per barrel, plus or minus a few dollars," Dvorkovich told Rossiya 24 television.

Oil prices are declining because " Russia and Europe are not developing as fast as could be desired right now" and due to increased supplies in OPEC countries and the U.S.