Russia can wait for USD 70 oil before returning to Arctic waters
With crude oil languishing at USD 51 per barrel, Russia is currently relying on less costly regions than the Arctic.
BY ELENA MAZNEVA & DINA KHRENNIKOVA, BLOOMBERG
Russia can wait for a sustained recovery in oil prices before drilling again in Arctic waters, relying for now on less costly regions even as rival producer Norway accelerates development of its northerly fields.
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