CEO says Russia’s Lukoil expects oil price at $60 until 2020

MOSCOW, Oct 2 (PRIME) -- Russian oil company Lukoil expects the oil price to amount to about U.S. $60 per barrel until the end of 2019, CEO Vagit Alekperov told reporters on the sidelines of the Russian Energy Week on Wednesday.

“In a range of $60, more or less,” Alekperov said.

The official said that there is no deficit on the oil market since the situation with infrastructure of Saudi Aramco has stabilized after the attack. “The market has balanced really well… these attacks targeted refineries … The oil stocks that all countries possess are quite high, that’s why the price recovered immediately, meaning here is no deficit on the market.”

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