Press review: Russia boosts military potential and Donbass awaits crucial meetingPress Review August 17, 13:00
Justice Ministry adds Jehovah’s Witnesses to list of organizations outlawed in RussiaWorld August 17, 12:50
Moscow Zoo welcomes pygmy hippopotamus OliviaSociety & Culture August 17, 12:48
Russia’s new MC-21 airliner to climb to 11km altitude in flight testsBusiness & Economy August 17, 12:31
Poll shows number of Poles seeing Russia as threat decreases by halfSociety & Culture August 17, 12:18
Typhoon armored car with new remote weapon station may pass into service in 2017Military & Defense August 17, 11:47
Gazprom increases exports to future consumers of Turkish Stream gas projectBusiness & Economy August 17, 11:31
Ex-German chancellor says Russia will not change stance on CrimeaWorld August 17, 11:09
Aircraft manufacturer says company ready to produce at least 30 MC-21 planes annuallyBusiness & Economy August 17, 10:39
ST.PETERSBURG, June 16. /TASS/. OPEC is transforming and reviving after the June meeting in Vienna, head of Russian oil major Lukoil Vagit Alekperov said speaking at the session "New realities of global market of hydrocarbons" at the St. Petersburg International Economic Forum.
"Today, we feel that after the last session, which was held in Vienna, OPEC is beginning to transform and revive again. We were disappointed by previous meetings, but at this meeting the members-countries reaffirmed their intention to maintain it (the organization). In a medium and long period of time OPEC will form the vision of the investors on the price that will be on the crude oil market," Alekperov said.
According to the top manager oil prices drop reached the bottom and there is no need of restarting oil production freeze talks.
"The critical situation ended, we passed the bottom of collapse; I think oil prices will not be lower than $30 anymore," Alekperov said.
Processes are currently underway making possible to receive the fair oil price, he said earlier today in an interview with RBC TV Channel. The fair price is somewhat about $60 [per barrel], Alekperov said.