Minister says current oil price of $70 per barrel unstable
MOSCOW, Jan 19 (PRIME) -- The current oil price of around U.S. $70 per barrel is unstable, as a fair medium-term price is no higher than $60 per barrel, Economic Development Minister Maxim Oreshkin told reporters on Friday.
УLook at market expectations. Look at the forward diagram to see that the market is anticipating a price fall,Ф he said.
He added that strong prices result in higher investment in the industry both in the U.S. and some Latin American states.