"Beginning in the second half of next year, there is a high probability oil prices will return to positive dynamics with lower volatility," Ulyukayev said in an interview with the Rossiya-24 broadcaster.
Ulyukayev forecasts, citing similar projections by oil analysts, additional two to three quarters of high volatility in the global oil market.
"In general, I think the $50 [per barrel] forecast for the year is fully justified," the minister said.
Ulyukayev said in August he expected the Russian export blend crude oil, known as Urals oil, to average around $52 per barrel in 2015. Next year, he forecasts an increase to $55 per barrel, then $60 per barrel in 2017-2018.
More about:
