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Oil prices can remain $40/bbl for 3-5 years, says head of Accounts Chamber

Oil prices can stay at the level of $40 per barrel or higher during 3-5 years to come, head of the Russian Accounts Chamber Alexei Kudrin says.

“We do not expect prices can hold ground at $25 or $30 [per barrel] during three-four years to come. Therefore, this is probably a scenario for the extreme case. Prices will most probably remain at about $40 per barrel or higher,” the official said.

The oil price of $30-40 per barrel can become a natural one in 10 years because of the change in the energy consumption structure and appearing alternative energy sources, Kudrin added.
Source: TASS

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