According to the projections, the Russian economy will grow from a low point this year. Following two years of massive recession, Russian GDP will show moderate, one and a half percent growth in 2017, calculated by the analysts assuming a continued low, USD 50–60 oil price and maintained sanctions.
Analysts project USD 50-60 oil prices for 2017. According to the projections, oversupply will continue in the black gold market during the year, though it will drop lower than the 1-2 million barrel daily surplus observed in earlier years. Consequently, and in accordance with the subsequent growth of the global economy the current, approx. 96 million barrel, daily demand is forecast for the coming years to be 98 million barrels in 2017 and 100 million barrels in 2018.