Report: Russian min sees 2016 average Urals oil price at $43/bbl

ST. PETERSBURG, Jun 16 (PRIME) -- The average annual Urals oil blend price may amount to U.S. $43 per barrel in 2016 if current market conditions remain, Economic Development Minister Alexei Ulyukayev told RBC TV channel on Thursday.

“We had the lowest point on Urals oil at $24 per barrel in January, today we have $47 for Urals and $49 for Brent. The average (oil price) from January 1 till June 16 is $37. If current market conditions remain, it will be $43 for the year,” he said.

The annual average ruble rate will be over 60 rubles per U.S. dollar in 2016, he also said.

End