28 May 2004 02:45
Ministry ups oil price forecast
MOSCOW. May 28 (Interfax) - The Russian Economic Development and Trade Ministry has increased its forecast price for
oil in 2004 from $28.5 to $29 per barrel, Andrei Klepach, director of the ministry's macroeconomic forecasting
department, said at a Friday press conference.
"An increase in the growth forecast for GDP in 2004 [from 6.4% to 6.6%] became possible because the Economic
Development and Trade Ministry based this on prices of $29 per barrel, instead of $28.5," Klepach said.
He also said that the ministry forecasts a decline in oil prices until 2007 inclusive: in 2005 - $26, in 2006 -$25
and in 2007 - $24 per barrel. However, in the future the ministry expects price growth.
"In the future, we think that after 2007 the era of oil price growth will continue," Klepach said. [RU
EUROPE ASIA EEU EMRG ENR CRU OIL ECI] rd <>
[Interfax] |
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