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Russian Accounts Chamber expects oil price about $60 per barrel in 2018

January 17/ 08:40

Moscow. Oil prices in 2018 will be about $60 per barrel, head of the Russian Accounts Chamber Tatiana Golikova told TASS in an interview on Tuesday.

"We do not actually predict the oil price. We estimate it sometimes for preparation of flash reports. Nevertheless, it seems to me the situation is such that we have all grounds to assume in connection with our arrangements with OPEC that there will be no dramatic price drop and it will be within the range of $60 per barrel, where it is now," she said.

All the extra oil and gas revenues will be accumulated and directed then to the National Wealth Fund, Golikova said. "It means that high oil price makes it possible to not merely have more stable performance and receive some increase in economic growth but to replenish our sovereign reserves also, which is certainly good," she added.

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