The price of oil this year will range between $ 50 and $ 70 a barrel, Russian Energy Minister Alexander Novak said.

“With regard to price limits, I can say that my ratings are slightly different, I think the level of price volatility could be between $ 50 and $ 70 this year,” Novak told Russia 24 television on the sidelines of the Sochi investment forum.

The report of OPEC, on the seventh of this month said that the average price of OPEC basket of reference, fell on February 6 by $ 0.97 or 1.3 percent to 64.83 dollars a barrel from 65.7 dollars a barrel the day before the opening of trading , that is, 5 February 2018.

Thus, the average price of OPEC’s barrel is now $ 66.1 in February, and in 2018 – $ 66.74.

It should be noted that the average price of the basket of “OPEC” is determined by the total price of the categories of oil-producing countries, OPEC countries.

Source: National Iraqi News Agency