Oil prices: actual values and forecasts for 2018 to 2024 (Urals, USD/bbl). Note: According to assumptions by the Russian Ministry of Economic Development, pressure on the oil market will be exerted by increased production of the OPEC+ deal countries, as well as by an increase in shale oil production in the United States. Yet in the short term, a further rise in oil prices is possible under the influence of declining supply from some large oil-producers, such as Iran, due to the influence of USA sanctions. The long-term average annual price is calculated for the baseline scenario. Source: Authors’ calculations.

  Part of: Drobyshevsky S, Idrisov G, Kaukin A, Pavlov P, Sinelnikov-Murylev S (2018) Decomposition of growth rates for the Russian economy. Russian Journal of Economics 4(4): 305-327. https://doi.org/10.3897/j.ruje.4.33617