Oil prices may turn back to optimal diapason soon $90-110/barrel - Minister of Energy of Russia
Almaty. October 22. KazTAG - Oil prices may turn back into optimal diapason $90-110 per barrel in the near future, said Alexander Novak, Minister of Energy of Russia, with a reference to the TASS news agency.
"Oil prices may turn back to the optimal diapason $90-110 per barrel in the near future," said the Minister.
He added in case of price fall to $80-90 per barrel many projects in the oil and gas field, including in the US, will become unprofitable. "It will cause reduction of oil offering," he said.
Positive dynamics of oil price has been observed lately. Brent oil price at the London Intercontinental Exchange increased by $0.82 to $86.24/barrel on October 21.
The cost of WTI at New York exchange increased by $0.53 to $82.59.