Russian Energy Minister Sees Oil Price at $50 Per Barrel by End-2016

Reuters

MOSCOW, April 12 (Reuters) - Russian Energy Minister Alexander Novak said on Tuesday that he sees global oil prices at $40-45 per barrel in the second half of this year, with potential to rise to $50 by the end of 2016.

A planned meeting of major OPEC and non-OPEC countries in Doha later this month may allow to speed up the rebalancing of the oil market by three to six month, Novak said. He added that oil prices might reach $60 to $65 per barrel in 2017-18.

(Reporting by Vladimir Soldatkin, Denis Pinchuk and Katya Golubkova; Writing by Dmitry Solovyov; Editing by Maria Kiselyova)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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