OREANDA-NEWS. February 24, 2011. The Russian Ministry for Economic Development (EDM) may correct its 2011 forecast for the average annual crude price in context of the current events in the Middle East, the Ministry head, Elvira Nabiullina said February 22.

She noted the decision to adjust the forecast with regard to foreign economic indices was made after a meeting over scenarios of the long-term socioeconomic development in Russia till year 2030. “When we say that we should account for external economic factors, we surely must regard of how the price of oil will behave”, Nabiullina said. The minister added the oil price forecast might be adjusted along with the long-term development estimate.