Forecast $100 oil in 2015-2017 realistic, but risks high - Ulyukayev
MOSCOW. Sept 18 (Interfax) - The Russian Economic Development Ministry's baseline forecast for Urals oil prices in 2014 at $104 and in 2015-2017 at $100 per barrel is realistic, but there are high risks regarding oil prices, Economic Development Minister Alexei Ulyukayev said at a government session on Thursday in Moscow.
"We are proceeding from the fact that the price of oil this year will be $104 per barrel, and in the next three years will remain at $100 a barrel. We understand that there are high risks connected with the recovery of world oil supply - supply from Libya, Iraq and Iran and with the increase of reserves with a possible fall in demand associated with the expected slowdown in the growth of countries that are the major consumers of oil and oil products," the minister said.
"However, so far this forecast is still lower than the consensus forecast of the world's major analysts and investment banks, and the hypothesis that these tendencies will persist in the near future seems realistic to us," Ulyukayev said.
