Russia prepares for Oil at $40 – Bloomberg

Omkar Godbole FXStreet Contributor

As per the Bloomberg report, Russia’s budget in 2017-2019 is based on the assumption that oil prices will remain around $40/barrel.

This is bad news for oil bulls as Russia’s oil price forecast goes against international oil industry experts that barrel prices will rise to $60 and remain there over the long term.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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