Lukoil CEO sees oil price at $70–75 in Nov–Dec, in 2019

ABU DHABI, Nov 12 (PRIME) -- The oil price is forecasted to remain at the current level of U.S. $70–75 per barrel until the end of 2018 and in 2019, CEO Vagit Alekperov told PRIME on Monday.

“I think that the price is stable today and will remain so until the end of the year. Next year, I think, it will be $70–75 (per barrel) as well,” Alekperov said.

Alekperov said it is too early to say whether oil production will be reduced under an OPEC plus nonmember agreement in 2019 because the price is still quite high.

The CEO said that Lukoil has signed an agreement to stabilize the fuel market with the Energy Ministry and the Federal Antimonopoly Service. A meeting of oil companies’ representatives with Deputy Prime Minister Dmitry Kozak on the fuel market situation will be held on Monday.

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