Oil Prices May Remain Below $40 per Barrel for Long Time - Russian Official

CC BY 2.0 / Justin Vidamo / The Burning of the SkyOil prices may remain under $40 per barrel for quite a long time.
Oil prices may remain under $40 per barrel for quite a long time. - Sputnik International
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Oil prices may stay under $40 per barrel for quite a long period, a senior Russian official said.

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MOSCOW (Sputnik) – Oil prices may remain under $40 per barrel for quite a long time, Russian Presidential Aide Andrei Belousov said Tuesday.

“We think there is reason to believe that this may last quite a while,” Belousov told journalists in response to whether oil prices are bound to remain low or if the current low prices are just a short-term phenomenon.

Belousov refused to be more precise as to how long oil prices would be below $40.

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