mo4ch:>World Bank: Russia can withstand oil price volatility in 2019 | Mo4ch News

Russia is well-positioned to withstand external shocks, The World Bank said in its most recent version of Russia Economic Report, cited by TASS.Oil prices are expected to average $71 per barrel over the next three years, the report also said, with the caveat that there is still “considerable uncertainty” to this forecast.Oil demand is still expected to be “robust” according to the World Bank’s report, which cited the International Energy Agency forecast of a 1.4 million barrels per day increase.Also on rt.comLegendary oil trader expects crude prices to reboundDespite the extreme volatility experienced in the oil industry, with expectations that this trend will continue, the World Bank noted that Russia’s high level of international reserves ($461 billion), small international debt (29 percent of GDP), and “comfortable import cover (15.9 months) positions Russia well to absorb external shocks,” the report reads.READ MORE: What’s behind the latest oil price plunge?Russia is eyed closely…