Oil prices predicted collapse


Photo: Luisa Gonzalez / Reuters

Oil prices are now “unsustainably high” and can rather quickly decrease, said the head of the Ministry Maxim Oreshkin in an interview to RBC TV channel during the Eastern economic forum (WEF) in Vladivostok.

“If you look at short – and medium-term macroeconomic situation, the budget this year we have in surplus, oil prices are very high, I would even say, unsustainably high, they can easily go down,” said the official.

In his opinion, the ruble is now substantial below the equilibrium value. “In fact, creates a certain monetary overhang over the currency market, which then, of course, return rate of national currency to an equilibrium value,” added the Minister.

At the WEF. advised citizens to sell dollars and buy rubles. According to his forecasts, in the medium term the course stabiliziruemost at the level of 63-64 rubles for one dollar (now more than 70 rubles to the dollar).

Video, photo All from Russia.


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