Russia's economy ministry has cut its forecast for the average price of Brent crude in 2025 by nearly 17% from what it saw the price would be this year in its September calculations, Interfax news agency reported early on Monday.
April 21 (Reuters) - Russia's economy ministry has cut its forecast for the average price of Brent crude in 2025 by nearly 17% from what it saw the price would be this year in its September calculations, Interfax news agency reported early on Monday.
The ministry envisages in its baseline scenario of economic forecasts for 2025 that the average price for Brent will be at $68 per barrel, down from the $81.7 per barrel it assumed in its September forecasts, Interfax reported.
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The ministry sees the price for Urals, Russia's main blend, at $56 per barrel - against the $69.7 per barrel Russia has based its 2025 budget on.
"We believe that this is a fairly conservative estimate," the agency cited a representative of the ministry as saying.
The price of Urals cru... [Short citation of 8% of the original article]
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