Deutsche Bank predicts depletion of Russia’s reserve fund within 2 years

If the Urals oil continues to cost $15 per barrel, resources of the National Wealth Fund may be depleted within two years, Deutsche Bank analysts estimate.

The experts reminded that this week the oil price has dropped to $12. If it rises to $30 the wealth fund reserves may be sufficient for a longer period of time, around six years.

The National Wealth Fund is worth $120 bln or RUR 9 trln.

The Russian Finance Ministry noted that in 2020, it will be necessary to allocate RUR 2 trln ($26.8 bln) from the National Wealth Fund to compensate the lost oil and gas revenue. The assessment was based on a $20 per barrel prognosis.

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