MOSCOW, September 14 (RIA Novosti) - Russian Ministry of Finance closely follows the oil prices and will undertake measures in case the price for Urals oil falls significantly lower than the budgeted figures of $96 per barrel, Russian Finance Minister Anton Siluanov told journalists on Sunday.
"We will monitor the situation and react according to the situation," Siluanov promised, adding that the current decline of oil prices was caused by growth in Libyan oil production and beginning of export of the light crude oil from US.
"How will the situation unfold? Either the [global] economic growth will have to increase, causing the increase in demand for oil, or, if measures to regulate the oil market are once again not taken, there will be an excessive supply," said the Minister.
