Oil Prices to Ease in 2012, Russian Finance Minister Says
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Russia, the world’s biggest energy exporter, expects the price of oil shipments to the global market to start decreasing next year as governments begin to withdraw stimulus measures, Finance Minister Alexei Kudrin said.
Urals, the nation’s major export oil blend, will stay above $90 a barrel for 12 months to 18 months, Kudrin told a press briefing in Washington, D.C., yesterday. The price will probably fall to $60 a barrel in the next two years and stay at that level for about six months, he said, reiterating a forecast he made a year ago.