The Russian Central Bank has projected that oil prices will stabilize at approximately $60 per barrel in the coming years. The bank outlined this forecast in the minutes from its April 25th board meeting, where the key interest rate was kept steady at 21%.
The Central Bank’s outlook for oil prices reflects a global recovery in demand, driven by the easing of international trade restrictions and tariffs. The price of Brent crude has recently seen a 3.8% increase, reaching $66.34 per barrel, following announcements from both the United States and China regarding a reduction in some of their tariff measures.
Despite this recent uptick in prices, it’s important to note that oil prices have still fallen by around 20% from their 2025 peak of $82 per barrel, which occurred back in January.
However, the Central Bank remains cautiously optimistic, expecting prices to stabilize and hover around $65 per barrel for the remainder of this year.
