Lukoil not expecting higher oil prices, budgeting for $90-$95/barrel
MOSCOW. Sept 19 (Interfax) - Lukoil is not forecasting growth of oil prices, but on the contrary sees a downward trend, the Russian oil company's president, Vagit Alekperov said in an interview with TV channel Rossiya 24.
Lukoil is drafting its budget based on an oil price of $90-$95 per barrel, Alekperov said.
"We are not currently forecasting a growth in oil prices. We see a downward trend and stabilization. Whereas before we had been forecasting around $100 per barrel, today we are formulating our budget based on prices of $90-$95," he said.
"Still, the growth rate of production in the U.S. [and] fairly active talks on the Iran problem - this all puts pressure on the market. And of course the market is waiting for big oil supply. For that reason we don't believe the price of oil will exceed $100-$105 anytime soon," Alekperov said.
