Low oil prices might last for decades, - Russian Economic Development Minister Ulyukayev

The biggest threat for the Russian economy at the moment is that low oil prices can last for decades.

As reported by Censor.NET citing TASS, this was announced by Russia's Economic Development Minister Alexey Ulyukayev.

"Following the market's logic, the less it declines today, the more chances of its rebound tomorrow. That's not the biggest risk. The biggest risk is that low prices might last for a long time, I mean years and decades," he said.

Read more: Brent plunges below $31 per barrel

"For commodity economies like that of Russia the period of low raw material prices will be lengthy. I cannot say whether this is the low stage of the global row cycle time or the new norm. But I am certain this is a very long time," the minister stressed.

Источник: https://en.censor.net.ua/n368793