Oil prices may soon return to the optimal range of $90-110 per barrel - the Ministry of Energy of the Russian Federation

Almaty. October 22. Silkroadnews - Oil prices may soon return to the optimal range of 90-110 per barrel, informs TASS referring to the Energy Minister Alexander Novak.
He noted that in the event of a fall in prices to $80-90 per barrel, many projects in the oil and gas industry, including in the United States, will be profitable. "This will cause a decrease in the supply of oil", - said Mr. Novak.
In recent days, there is a positive dynamics of oil price movements. In particular, on October 21 to the end of the session on the London intercontinental stock exchange futures transactions, the value of contracts for the supply of a mixture of Brent (consisting of oil produced from different wells in the North Sea) increased by $0.82, to $86.24 per barrel.
In this case on the New York Mercantile Exchange, where trading still going on, as the rise in prices for raw materials. The cost of a barrel of Texas light crude oil (WTI) at an intermediate elevation session now is $82.59. During the day, quotes rose by $0.53.
Positive dynamics of oil prices marked on the background of an increased demand for raw materials in China. Estimated consumption of black gold in China in September rose by 6.2% compared with August to 10.3 million barrels a day, which was the highest increase since February.