Samruk-Kazyna predicts oil prices at $45 per barrel in 2017-2018

“As for prices for oil, we expect them to make $45 per barrel in 2017-2018, and at $50-54 per barrel in 2019-2020. We believe these are quite rational and modest prices which underlie our plan. If prices rise, then our market will just win,” Grual said answering journalists’ questions.

Samruk-Kazyna representative reminded that in 2016-2020 the Fund will have to work in tough economic conditions, amid decline in demand, low crude prices and high debt load. Nevertheless, despite these conditions, Samruk-Kazyna plans to have a net profit at 100 800 000 000 tenge by the end of 2016.

In turn, the Fund’s Managing Director for Finances and Operations, Member of the Management Board Elena Bakhmutova noted that the main challenges for the Fund are economic downfall and production ramp-down.