Novak called the range of oil prices in 2017 – RBC

the Head of the energy Ministry of Russia Alexander Novak

Photo: Mikhail Voskresensky/RIA Novosti

Oil prices this year will cost from $ 50 to $ 60 per barrel, said the head of Ministry Alexander Novak. According to him, the potential of growth of cost of oil is not exhausted.

the Head of the energy Ministry of Russia Alexander Novak in the air of TV channel “Russia 24″ called the range of oil prices in the current year. “I think that the growth potential of oil prices has not been exhausted. Nevertheless, in General, in order to assess the situation, in my opinion, the price will be for this year on average from $ 50 to $ 60 per barrel”, — he said (quoted by “Interfax”).

“We’ll see, perhaps, higher prices relative to today’s current price of $ 55,” — said Novak, noting that this largely will depend on the current balancing of supply and demand.

According to him, balancing the oil market could happen at the end of the first half of 2017, although I was estimated that it will occur in the third or fourth quarter of this year.

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the Increase in investment in the oil industry this year will have a positive trend, praised Novak, why the implementation of the agreement on production cuts. “This is the January figures are already talking,” said he.