Report: Russia’s Sberbank CEO: Oil may grow to $40/bbl in Jul–Dec

MOSCOW, Jan 21 (PRIME) -- Russian national top lender Sberbank CEO German Gref expects that global oil prices will grow to U.S. $40 per barrel in the second half of 2016, he told CNBC TV channel late Wednesday.

“The volatility of the oil prices will be very high, and in the first half of the year the price can be between U.S. $25 and $30, maybe $35 per barrel. In the second half of the year, it will be between $30 and $40. But it is too difficult to predict the oil prices,” he said.

The volatility will continue until the end of this year, Gref said.

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