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Russian Ministry of Economic Development forecasts the record low average export prices of gas in 2016-2018 at the level of $162-194 per 1,000 cubic meters, according to Russia's Prime business news agency.
"The Ministry does not expect a significant improvement in the oil and gas industry in the next three years. According to its calculations, the price of oil in 2016 will remain at the level of 2015 - $50 per barrel of Urals, while in the next two years it will grow to $55 and $60 per barrel, respectively," the report says.
However, the Ministry of Economic Development forecasts the record low average export prices of gas in 2016 - $162 per 1,000 cubic meters (in 2014 - $351, estimates for 2015 - $237), in 2017-2018 - $184 and $194 per 1,000 cubic meters, respectively.