MOSCOW (Sputnik) — The Central Bank's baseline scenario presumes that the oil price will remain at $40 per barrel in 2017-2019.
"The events on the international markets [such as US presidential election, OPEC deal] increase the likelihood of the scenario with a higher level of oil prices, especially in the short term. But our medium-term outlook in key aspects remain the same," Nabiullina said at press conference.
Oil market turbulence caused oil prices to plunge from $115 per barrel in June 2014 to less than $30 per barrel in January 2016, causing hardship for oil exporters and placing a number of global oil producers at risk of bankruptcy. Since then, prices have slightly increased and currently stand at $45-50 per barrel.