Drop in oil prices due to Iranian factor already correcting, impossible to forecast future movements - Sechin
SINGAPORE. Nov 14 (Interfax) - The current drop in oil prices to $65 per barrel was fueled by the Iranian factor and has already started gradually correcting, Rosneft chief Igor Sechin said.
"It [oil] is already rising. If you take a look, it is already correcting. I think that to a large extent this uncertainty related to Iran was what affected the fall in prices. Now this is all correcting," he said.
Sechin declined to forecast future movements in oil prices. "It's stupid to say now. We don't know what actions will be taken by the U.S. administration, what will happen with the main players, what Saudi Arabia's decision on production will be; so will we see. But we are ready to work in any parameters," he said.