9/7, 9:50 AM (Source: TeleTrader)
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Lukoil CEO: OPEC+ wants oil prices at $65-$75pb

Lukoil president and CEO Vagit Alekperov (pictured) said that OPEC+ intends to keep oil prices in the range of $65-$75 per barrel as consumers are "comfortable" with such prices.

In an interview with Kommersant published on Tuesday, Alekperov warned that prices over $100 per barrel could cause the market to collapse. "I would not like to see oil prices above $ 100 per barrel again, as this can stimulate investment in low-profit, ineffective projects and then again lead to what we have already gone through - the collapse of the market," he stated.

The Lukoil head also said he expects the alliance between OPEC and other major producers led by Russia not to be temporary but to "stay forever."

Breaking the News / NP