Business

Russian energy minister expects oil price range of $65-75 per barrel in 2018

Isaac UmunnaComment(0)

The oil price will hover in the range of $65-75 by the end of this year, Russia’s Energy Minister Alexander Novak said in an interview aired by RBC business news channel at the St. Petersburg International Economic Forum. “The oil price was lower at the beginning of the year than today. I think the average oil price will be in the range of $65-75,” he said.

The price of the futures contracts of Brent crude oil has added almost 20% year-to-date, exceeding the $80 per barrel mark first since November 2014. TASS

Isaac Umunna

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