The average annual price of oil in 2016 will develop in the range of $ 41-42 per barrel - director of the Department for Macroeconomic Forecasting of the Ministry of Economic Development, Kirill Tremasov.

"This year is likely to be somewhere in the 41-42 (per barrel) average price. The following 3 years $ 40 per barrel as stated by the forecast for budget projections," - Tremasov said.

In January - August 2016, according to the Ministry of Finance, the average price of Urals oil decreased compared to the same period of the previous year by more than 16 dollars to 39.36 dollars per barrel.

The average price of Urals oil in 2015 has developed at a average rate of $ 51.23 per barrel vs $ 97.6 per barrel in 2014.