Rosneft CEO Sechin sees as acceptable prices $45-$50/bbl for Urals in 2025, $60-$65/bbl for Brent in medium term, 2026 will be better

RAS AL KHAIMAH. Dec 5 (Interfax) - Rosneft CEO Igor Sechin believes that $45-$50 per barrel for Urals oil is an acceptable price in 2025 and that 2026 will be better.

"We have been doing more risk management lately. This concerns external risks and the tax regime, and work with the attraction of credit resources. Risk management is our current activity, which we do every day," Sechin said at the 17th Verona Eurasian Economic Forum.

"I would take $45-$50 for Urals to minimize these risks, to form the budget of our own program. [...] $60-$65 for Brent is a possible prospect when managing the risks that I have mentioned. We must proceed from the stability of work and account for these problems. If the price is higher, that is good. [...] However, we must prepare for more balanced decisions," he said.

"2026 will be better, when the dynamics will be more positive. [...] The resource base will deteriorate as a whole, and there will be a need to increase consumption. We are planning the first stage of Vostok Oil for 2026, so there is no need to worry, as we are ready to ensure stability and energy security," Sechin said.