OPEC + wants to keep oil prices between $ 65 and $ 75, says Lukoil

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The price of a barrel of oil could stay between $ 65 and $ 75 per barrel until September next year. It is said to be a price that is acceptable both to the OPEC oil cartel and its allies and to consumers.

If black gold were traded in this range, everyone would be satisfied. Thus, both the OPEC + group (OPEC countries and their allies) and the buyer, a price between $ 65 and $ 75 would not necessarily be an obstacle to the global economic recovery. This was stated in an interview with the Russian daily Komersant by Vagit Alekperov, the head of Lukoil, which is the second largest oil producer in Russia.

“Production regulation may vary over time depending on the current market situation,” Alekperov explained. According to him, September 2022 can be considered an important milestone, when all the restrictions on mining negotiated so far should expire. This is also the time horizon within which the price of oil should fluctuate in the mentioned interval.

The price of brent oil was around $ 72 per barrel on Tuesday afternoon. This is a level comparable to the end of August. Meanwhile, it has climbed above $ 73.5, so black gold has fallen slightly in recent days.


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