World oil prices may fall to $60 per barrel in three years warns minister

Global oil prices may fall to $60 per barrel within the next three years for about six months, which will have a strong negative impact on the Russian economy as it heavily depends on world energy prices, Russian Finance Minister Alexei Kudrin said on Wednesday.

Global oil prices may fall to $60 per barrel within the next three years for a period of about six months, which will have a strong negative impact on the Russian economy as it heavily depends on world energy prices, Russian Finance Minister Alexei Kudrin said on Wednesday.

"The oil price within the next three years will fall below $60 per barrel for six months. It comes from the analysis and all analytical materials on the sector," Kudrin told an Audit Chamber conference.

MOSCOW, December 9 (RIA Novosti)