Oil prices fell sharply due to the latest International Monetary Fund (IMF) report. This is a severe blow to Russia.
The IMF has reduced prices for "black stock", reports "Dialog.UA".
A few days ago, the IMF launched a macroeconomic report, the World Economic Outlook, in which it predicted a lack of demand for energy resources, as well as an average cost reduction of 14.7% – from $ 66 to $ 58.95 per barrel. And such a situation, experts believe, will continue for at least the next 2 years. This is a serious blow to Russia, three quarters of which export earnings are energy resources.
The world market reacts to the report instantly. Ahead of Tuesday night, January 22, the premium price of Brent oil fell more than 3% to 60.67 dollars a barrel, and WTI – to 52.37 dollars per barrel.
The IMF warns that in the next 2 years Russia will experience difficulties. The forecast for GDP growth in the Russian Federation has decreased from 1.8% to 1.6% in 2019 and from 1.8% to 1.7% in 2020. This is almost twice as slow, according to estimates, the global economy will grow.
We will remind, previously "Dialogue.UA" reported that up to a 7-year critical point: oil reserves were quickly depleted in Russia.