Russia's Economic Development Ministry has raised its 2011 forecast for Urals blend oil from $75 to $81 per barrel, Economic Development Minister Elvira Nabiullina said on Tuesday.
"We've slightly raised our forecast for the next year and we are currently thinking that the price is most likely to stand at $81 per barrel," Nabiullina told Rossiya 24 TV channel in an interview.
Nabiullina said the ministry had forecast that the price would amount to $75 this year. "We were accused of being not very conservative but our version turned out to be quite conservative," she said.
Deputy Economic Development Minister Andrei Klepach had previously said the ministry had raised the 2010 average annual oil price forecast to $77.5-$77.8 per barrel, to $81 in 2011, to $83 in 2012 and to $84 in 2013.
MOSCOW, December 21 (RIA Novosti)
