It is unlikely that oil prices will remain at $ 50 per barrel or higher in the long term, said the Russian Finance Minister Anton Siluanov , writes TASS .
He noted that the demand for hydrocarbons is in a risk zone. “Green” technologies, carbon taxes and the transition to electric vehicles will not allow achieving high prices for raw materials, Siluanov said. Therefore, National Welfare Fund (NWF) insures the decline in income from hydrocarbons, added minister.
According to Siluanov, Ministry of Finance in case of budget shortfalls in revenue in 2021 will be either borrow funds, or spend funds from the NWF. He stressed that there are no plans to raise taxes.
Oil prices in 2021 may fall to $ 30-35 per barrel, said a leading analyst at the QBF investment company Oleg Bogdanov . Earlier, The Wall Street Journal reported that this was the worst year for oil companies in the last 10 years. In December, the President of the country Vladimir Putin said that Russia got off the “oil needle” .