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The price for Brent crude oil will fall to $ 40 per barrel in the medium term. This was stated by the Director the Revenue Department under the Russian Finance Ministry Elena Lebedinskaya. According to her, the budget revenues increased by 20 percent in January-February of 2016 because of the higher prices.

If the oil prices are maintained at the present level, the results of additional budget revenues in 2017 will amount to 600 billion rubles. Currently, Brent oil costs $ 50 per barrel. Moreover, in the past two weeks, oil prices declined by about 10 percent.

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