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Russia’s Economy Ministry Increased Forecast for 2012 Average Oil Price
Apr. 03, 2012 06:50PM PST
Oil and Gas InvestingReuters Africa reported that Russia’s economy ministry has increased its forecast for 2012 average oil price to $115 per barrel.
Reuters Africa reported that Russia’s economy ministry has increased its forecast for 2012 average oil price to $115 per barrel.
As quoted in the market news:
The ministry had initially envisaged a budget deficit of 1.5 percent of gross domestic product (GDP) in 2012, while analysts say that Russia could balance the budget this year with an average oil price of around $118-$120 per barrel.