The head of the Ministry of Energy does not believe in the rise in oil prices to $ 100 per barrel

The oil price in the next three years is unlikely to reach $ 100 per barrel, said Russian Energy Minister Nikolai Shulginov. He predicts a price of $ 50-60 per barrel.

“The US has introduced stimulating measures, demand (for oil. – “B”) has increased. At the same time, there is OPEC +, which has a policy of balancing supply and demand. Therefore, it seems to me that there will be no such thing that the price will soon reach $ 100. Our estimates for the next two or three years are still somewhere around $ 50-60 per barrel, “said Mr. Shulginov in an interview with RIA Novosti on the sidelines of the St. Petersburg International Economic Forum.

Speaking about the prices for diesel fuel in the long term, the head of the Ministry of Energy noted that different data are predicted here.

“For the long term, the estimates are different: they forecast both $ 50 and $ 70 per barrel. But there is uncertainty, energy transition. How can you make a guess here? Companies are still watching what is happening in the world, thinking about low-carbon projects, about trans-carbon taxes, ”added Mr. Shulginov. He also believes that it is too early to talk about the end of the oil era. “Different analysts have different assessments. We look closely at the forecasts and think that there should definitely not be a sharp change until 2035. Although in terms of the prestige of oil, something is likely to happen, ”said Mr. Shulginov.

As of June 1, the price of Brent crude in the London ICE exchange reached $ 71 per barrel for the first time since March 8.

For more details on how the rise in prices for Brent crude oil may affect the Russian currency, read in the material “Kommersant FM” “Oil returns to pre-pandemic levels.”