No shocks there then
- prices will remain extremely volatile
- oil seen averaging $53 per barrel in 2015 & 2016
- current prices require significant govt expenditure adjustment in Russia in 2016 and beyond
- Russian authorities have successfully stabilized economy but sees contraction of 3.8% in 2015 improving to -0.6% in 2016
Earlier Reuters produced the results of a poll that saw Brent averaging $55.3 in 2015 vs previous estimates in August of $57.40 and US crude to average $50.30 vs $51.70 prev
2016 forecasts from the poll showed an average of $58.60 for Brent vs $62.30 in Aug with US crude at $54.1 vs $57.0 prev