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Russia: We don't expect any oil price rise after Doha

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    In an interview with CNBC published on Friday, Russian finance minister poured cold water on any hopes for a deal between OPEC and non-OPEC oil producers at Doha this weekend.

    Key Quotes:

    I want to say that we don't expect any changes in the price in spite of the negotiations which are being conducted currently with oil-extracting nations

    Our economic plans are correlated in relation to the current oil price - about $40 a barrel

    That is why we see that in the conditions of the slowing down of world economic growth rates, the accumulation of oil reserves by producers, there are no serious grounds for talking about increasing oil prices

    We see that we will have to work within the conditions where oil prices fluctuate around $40 a barrel
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