In the framework of the First International Forum of Eurasian Partnership, held in Yerevan, the CEO of the Russian “Sberbank” Herman Gref has announced the upcoming forecasts for the oil prices.
– I am inclined to think that the oil prices will not return to the point of 138 anymore, as far as the oil continues to remain not only an object of major investment assets, where huge investments are made by financial institutions, but most importantly, the balance of supply is disrupted. Today the oil shortage problem does not exist and it is likely that the demand for this key energy resource will continue to decline. It will continue during the next 10-15 years, and we must prepare to gradually finding a substitute for oil in our economy. We see that Russia has been and remains the main locomotive of economic development across the region. The entire economy in one way or another depends on it. We also see that the forecasts for the next 3 years are not so optimistic, in the range of 1 percent, which is very small for a recovering economy like this,- said German Gref.