Russian deputy premier says oil price could reach $100 per barrel

Russian Deputy Prime Minister Alexander Novak admitted that the oil price could reach $100 per barrel under certain conditions, but Russia hopes to balance the situation, Report informs, citing TASS that he told reporters on the sidelines of the Russian Energy Week.

“Today the price is already $83, prices do not stand still, they either go up or down. They can be in this format if the market situation develops. I hope that the situation will be balanced,” he said, when answering to a question about chances of the oil price reaching $100 per barrel.

Note that this morning the price of December futures for Brent crude oil fell by 0.11% to $83.32 per barrel, November futures for WTI – also by 0.11%, to $80.55 per barrel.