CBR expects a smooth start of the recovery in oil prices in Q1 2016 – report.
Edited by Rhod Mackenzie / 2015-12-14 08:23:43
CBR expects a smooth recovery in prices for Urals oil in Q1 2016, while by the end of 2015 the price will remain near current levels, the report of the Bank of Russia on monetary policy informs.
"The reduction in the supply of Outside Petroleum Exporting Countries (OPEC) to 0.3-0.6 million barrels per day on average in 2016 as a result of reduced investment in the mining and production by more than 20% in 2015 will contribute to the rise in prices", - the document informs.
