Russia central bank does not rule out 2020 oil price at $25/bbl in risk scenario
Russia’s central bank in its risk scenario does not rule out oil prices falling to $25 per barrel in 2020, it said in its updated macro economic forecasts.
The risk scenario could be triggered in case of lower demand for energy products around the globe and worsening prospects for global economic growth, it added.
In case the risk scenario materializes, Russia’s inflation could jump to 7.0–8.0% in 2020 with gross domestic product falling by 1.5-2.0%.
Source: Reuters (Reporting by Elena Fabrichnaya; writing by Polina Devitt; editing by Chris Reese)