Excellent news for Russian oil producers. According to the latest forecasts, an increasing number of experts come to the conclusion that oil will soon cost $100 per barrel. Considering the fact that the oil sale is one of the few main sources of revenue to the budget, such news is encouraging. Analysts say the main growth factors are possible interruptions in supplies from Venezuela and Iran, as well as the global demand increase and reduction in world reserves. This will be more than enough for oil prices to rise to $90. The next jump will be triggered by sanctions against Tehran and OPEC's decision to extend the terms of the agreement to cut production.
Bank of America supports this point of view. However, Goldman Sachs has less optimism. Local analysts expect the price to rise to $82.5 per barrel. However, in any case this is good news for Russia. The local authorities are happy with this forecast. The revenues of the Russian budget from oil exports in January-March this year increased by 21 percent on a yearly basis and amounted to $28.2 billion.
