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21-06-2007  Finance Minister makes oil price forecast | |
 Russian Finance Minister Alexei Kudrin believes that the price of oil will average $61 per barrel in 2007.He said the price of oil was one of the key factors affecting the Russian economy. “Oil prices are at their peak now, but we must be prepared to see a drop in oil prices,” Kudrin noted. In 1997, the average price of oil was $12 per barrel, and it climbed to $61 per barrel in 2006. In accordance with the long-term forecast, the price of oil would remain at about $50 per barrel (in 2006 prices), the Finance Minister said. “This is quite a high price, showing that Russia has a strong potential, including for the inflow of foreign currency,” he said. On Friday, Texas Sweet Light edged down to $64.76 per barrel on the New York Mercantile Exchange, and Brent crude closed at $68.6 per barrel. "Alliance Media" News Agency, based on the story by RBC 
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