Lukoil's Alekperov does not foresee sharp decrease in oil prices
ST. PETERSBURG. June 21 (Interfax) - The head of Lukoil , Vagit Alekperov, does not foresee a sharp decrease in oil prices and expects prices to come around $100-$110 per barrel in 2013.
"We all have forecast that prices will come to $100 but the price has slipped under $95. But I am completely convinced that the economy will not let the oil price go under $90 because of the costs incurred by oil companies for production, especially at complex fields," he said on the sidelines of the St. Petersburg International Economic Forum.
Alekperov believes that an oil price range at $95-$110 per barrel would be "objective, which suits oil producing countries, oil companies and consumers." "I think there will not be a sharp fall in price. If this happens, it will be for the short-term," he added.
According to his forecasts, the oil price next year should come to $100-$110 per barrel because the budgets of many countries are based on this price range.
