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Oil price to range between $60 and $65 per barrel till end of 2015 — Lukoil CEO

June 19, 2015, 10:53 UTC+3 ST. PETERSBURG
According to Gazprom Neft CEO Alexander Dyukov, oil price will stand at $75 per barrel in the mid-term, and it will return to previous high levels in the long run
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© Artyom Geodakyan/TASS

ST. PETERSBURG, June 19. /TASS/.The price of oil will hover between $60 and $65 per barrel till the end of 2015, Lukoil CEO Vagit Alekperov said at St. Petersburg International Economic Forum on Friday.

When answering a question on his forecast regarding crude oil price by the end of this year, he said: "I think it will range from $60 to $65 [per barrel]."

According to Gazprom Neft CEO Alexander Dyukov, oil price will stand at $75 per barrel in the mid-term, and it will return to previous high levels in the long run. This level of prices will allow investment for supporting necessary output level, he said, adding though that $60 and $65 per barrel oil price "does not scare oil companies."

Infographics Oil prices over 30 years Oil prices over 30 years
Year-average inflation-adjusted oil price. Infographics by TASS

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