PRESS: Energy Minister says oil price of $150/bbl possible

MOSCOW, Apr 13 (PRIME) -- The oil price is able to reach U.S. $150 per barrel, but it is difficult to predict in the current geopolitical and economic situation, Russia’s Energy Minister Nikolai Shulginov said in an interview with Izvestiya daily, published on Wednesday.

“An oil price of $80–150 per barrel is principally possible, but our task is not to guess what the price will be like, but to ensure operation of the crude industry. We are ready to sell oil in any price range to friendly states,” he said.

Shulginov said that his ministry is assessing the future fall of investment in Russia’s energy industry.

He also said that oil company Lukoil’s oversupply of heating oil is a local problem, which can be solved.

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