Russia’s Economy Ministry Increased Forecast for 2012 Average Oil Price
Investing News Network - April 3rd, 2012
Reuters 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.