Russian cbank sees significant problem of falling oil prices - All News - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russian cbank sees significant problem of falling oil prices

MOSCOW, Dec 2 (PRIME) Ц There is significant risk of an oil price decrease as global economic growth slows down, demand in China dwindles and the U.S. production rises, the Russian central bank said in a report released on Monday.

According to the central bank, the average Urals price in 2019 is estimated at U.S. $63 per barrel in 2019, $55 in 2020 and $50 in 2021Ц2022.

УThe risk of an oil price decline remains significant, first of all, in conditions of a global economic growth slowdown,Ф the document read. УLower demand in China and the factor of growing production in the U.S. are increasingly influencing the oil prices.Ф

Besides, according to the central bank, a surge of RussiansТ debt burden coupled with real income stagnation is a threat to RussiaТs financial stability. УThe set of internal vulnerabilities which can trigger or strengthen the risks to the financial stability has remained unchanged. The problem of a higher debt burden of the population and a weak disposable income rise is one of the key vulnerabilities,Ф the central bank said.

The central bank said that people with an income of less than 20,000 rubles per month and disburse more than 80% of this income to repay debt are the most vulnerable category.

Volatility on the external financial markets can influence the Russian financial market but its resilience has lately grown, the ruler said.

The central bank sees a trend of reduction of foreign currency assets and liabilities of banks, and the foreign currency liquidity situation is favorable.

(64.0817 Ц U.S. $1)

End

02.12.2019 15:30
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 69.8608 -0.5663 14 dec
USD 62.5544 -0.6713 14 dec
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1501.42 +0.30 18:50 13 dec
micex 2996.63 +0.46 18:50 13 dec
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 249.50 -0.39 18:49 13 dec
lkoh 6168.00 +0.52 18:49 13 dec
rosn 451.10 -0.38 18:48 13 dec
sber 241.21 +0.07 18:49 13 dec
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 69.7250 -0.5800 14:59 13 dec
USDTD 62.7300 -0.1900 17:44 13 dec