Russian econ ministry to base new forecast on $50–60 oil price

SOCHI, Feb 15 (PRIME) -- Russia’s Economic Development Ministry will base a new macroeconomic forecast on the oil price of U.S. $50–60 per barrel, Minister Maxim Oreshkin said on the sidelines of an investment forum on Thursday.

“We will be guided by the current prices or so,” Oreshkin said when asked whether the price level of $50–60 will be taken as guidance.

The ministry will prepare the new forecast in April, he added.

The current forecast for 2018 is based on the average price of Urals oil of $43.8 per barrel.

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