“Since mid-June, the price of Brent crude has already fallen by 18.91%, now quotes have consolidated below $100 per barrel, and with an increase in recession risks in the United States, the cost of black gold may fall to around $85 per barrel,” the expert shared.
He added that these events could weaken the ruble and lead to an increase in the value of the US dollar.
According to the analyst, the value of the dollar and the euro may rise to "comfortable levels of 72-75 rubles for exporters."
“The current rates do not suit the Ministry of Finance, which is responsible for replenishing the state budget, as well as exporters whose profitability and business margins have fallen because of the expensive ruble,” the source said.
Earlier, the International Energy Agency prepared a report that provided a forecast for world oil production in 2022.