MOSCOW, May 29 (RIA Novosti) - Russia's government has adjusted upward its forecast for oil prices over the next three years, an economics official said Monday.
"A decision has been taken to upgrade a forecast for oil to $62 per barrel for 2006, $58 for 2007, $53 for 2008 and $48 for 2009," Andrei Klepach, director of the macroeconomic forecasting department at the Economic Development and Trade Ministry, told journalists after a government session.
Previous forecasts had fixed the average oil price at $60 for this year, $49 for 2007, $50 for 2008 and $46 for 2009.
Klepach also said risks remained high that oil prices would decline.
