YEREVAN. – The $40 to $50 range for the price of oil per barrel is relatively beneficial to Russia, and consequently, also for exports from Armenia, economist Ashot Tavadyan said at a press conference on Wednesday.
As per Tavadyan, in case of such a price index, the purchasing power of Russian households is maintained at a level that contributes to fruit, vegetable, and canned food exports from Armenia.
“In all probability, if this level is more, the shale oil production expansion starts,” added the economist. “And the prices record a fall again, remaining in the 40-50 [US] dollar range, per barrel.”
To note, Armenia’s exports to Russia have virtually doubled in the first half of 2016, as compared to the same time period in the year past.
