Fuel price between USD 90-110 is reasonable
It is reported that the Russian power and energy minister Alexander Nowak has stated that the price of crude oil barrel should be between USD 90-100 in order to be reasonable to the world economy.
Addressing the national summit of fuel and gas, he has stated that if the price is reduced more than that, the fuel projects will be at loss.
His ideas is that though the projects will be profitable if the prices go up, there is a risk.
He has further stated that a long term analysis is needed to predict on it.
He has stated that during the past few months, the price of crude oil has gone down by 20% and crude oil brent price is recorded as 84.99 which is the lowest price in 4 years.
But, it is said that the effect has become low with the depreciating of the Russian Ruble.
