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Bloomberg: Novak says 2017 oil price may average $50 per barrel

By Bloomberg.
Russian Energy Minister Russian Energy Minister Alexander Novak (C) arrives for the organization of Petroleum Exporting Countries (OPEC) meeting, in the Qatari capital Doha, on April 17.
Photo by AFP

Russian Energy Minister Alexander Novak tells Bloomberg's Ryan Chilcote at the St. Petersburg International Economic Forum that Russian oil output will be “in range” of 525m-545m tons next year and Crude price may average $50 per barrel next year.

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