Wednesday 18 May 2022

$60-65 preferred oil price range: Lukoil CEO

VIENNA, December 3, 2017

Oil prices at $60-65 per barrel are the most preferable at the moment, said chief executive officer of Russia’s oil major Lukoil Vagit Alekperov.

"I think that the oil price of $60-65 is the level preferable for Opec and non-Opec countries now," he was quoted as saying by Russian news agency Tass.

He added that he opposes a sharp rise in oil prices and considers it necessary "to reach an agreement to avoid the mistake made in mid-2000."

"I hope that ministers will meet once again at the end of spring and once again discuss the situation on the market. I do not support a sharp rise in the oil price. We have to reach a balance, which both producers and consumers will be satisfied with," Alekperov said.

According to the CEO, the company’s 2018 budget is based on the oil price amounting to $60 per barrel. "The budget for 2018 is based on $60 dollars per barrel," he said.

Tags: oil price | Vienna | Lukoil |

More Energy, Oil & Gas Stories

calendarCalendar of Events