Report: Novak sees global oil prices at around $100/bbl till 2035

MOSCOW, Oct 16 (PRIME) – The global crude prices will fluctuate at around U.S. $100 per barrel until 2035, Deputy Prime Minister Alexander Novak said in an interview, partially broadcasted by television channel SolovyovLIVE on Monday.

“(The price) cannon be predicted for even several months ahead… If we take 10 years back, 2013 or 2012, the price used to be around $100 per barrel then. Now we are in 2023, and it is close to this level,” he said.

“It was $95, and now it is between $85 and $90. I think if we prolong it in mathematical terms, it should be nearly $100.”

Novak also said that nuclear power generation in the global power portfolio should reach 20% by 2050.

“The share of nuclear power in the entire power balance is around 10% today. I think that by 2050 it should reach 20% or more,” he said.

Fire wood and coal will still be used even in 2050, but their share in the global power balance will decrease, Novak said.

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