Press review: US 'gears up for war' in Europe and experts doubt stability of Syrian peacePress Review February 28, 13:00
Russia’s energy minister hopes gas dispute between Russia, Belarus will be settled soonBusiness & Economy February 28, 12:16
Foreign Ministry says Russia open to discussion on strategic issues with USRussian Politics & Diplomacy February 28, 12:06
Diplomat says Russia not holding any talks with US on criteria to lift sanctionsRussian Politics & Diplomacy February 28, 11:55
Russian diplomat says messages Trump sends in address to Congress important for MoscowRussian Politics & Diplomacy February 28, 11:48
Construction cost of Moscow - Kazan high speed railway currently estimated at $22.4 blnBusiness & Economy February 28, 11:38
Russian ice hockey legend Vladimir Petrov passes away at 69Sport February 28, 11:34
Russian rocket-system maker produces drone enclosed in missileMilitary & Defense February 28, 11:09
Ombudsman slams Amnesty International's conclusions on Russia as ‘far-fetched’Russian Politics & Diplomacy February 28, 9:52
MOSCOW, December 24. /TASS/. Lifting of the ban on oil exports from the United States will not lead to an overload of the oil market, president of Lukoil oil major Vagit Alekperov said in an interview with the Russia 24 television channel.
"The United States is the largest importer of oil. Most of all, the removal of restrictions on oil exports will lead to redistribution of flows. Still, the US will export light oil, which is valued higher on the market, and buy heavier oil," - he said.
"Lifting restrictions from the US will not lead to extra volumes on the market,"- Alekperov said.
"Most likely the market will be balanced," - he concluded.
According to him, recently, OPEC has little effect on the regulation of prices.
Alekperov said he hopes that the situation will be reviewed at the forthcoming session of the cartel, which is expected to be held in February.
Alekperov said that the session was "most likely caused by that catastrophic decline in prices that (in his opinion) no one had predicted."
As for Iran, the contracts with that country may take shape in the end of next year, because the legal documents have not been submitted yet, he said.
Earlier it was reported that the US Congress approved the lifting of the ban on oil exports. In January, Texas energy company Enterprise Products Partners will carry out first exports of US oil in 40 years.