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Oil prices is expected to remain in $50-60 per barrel range in 5 coming years - BP CEO

BP will be comfortable for the next five years with the price between $50 and $60 per barrel, Robert Dudley said

ST. PETERSBURG, June 3. /TASS/. Oil prices will stay in the range of $50-60 per barrel and such price is fair for producers and for consumers, Chief Executive Officer of UK-based BP Robert Dudley told TASS in an interview on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"It may be lower a little bit or may be above it for short periods of time but at the moment, if you ask me about the supply and demand, I would say $50 to $60 [per barrel]," the top manager said.

BP will be comfortable for the next five years with the price between $50 and $60 per barrel, Dudley said.

"I do not believe we will see $100 [per barrel] in the next five years nor do I think we will see $20 [per barrel]. I think price of $50 to $60 [a barrel] is actually healthy for the world because for consuming countries it is a fair price for energy and for producing countries it is a fair price for their product," he added.

Russian stock indices rising on Friday

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Russia ready for Ukraine talks, but not with Zelensky — Lavrov

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Unidentified man attempts suicide outside courthouse where Trump trial is underway

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Press review: Biden backs aid to Israel, Ukraine and Russia assets giving West legal fits

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One crew member of jet crashed in Stavropol Region killed, search for another continues

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Polish premier refuses to hand over his country’s Patriot systems to Ukraine

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West wants to make Transnistria hotbed of tension — Lavrov

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Lavrov speaks of West’s agony, Russia’s approach to any future talks with Kiev

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Hungarians in western Ukraine should get their rights back, Budapest says

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Russia has significant amount of West’s funds in case of confiscation of its assets

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Russian instructors help train over 10,000 Central African troops — CAR president

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Ukraine’s new ethnic minorities law insufficient to protect Magyars — Hungarian president

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FACTBOX: Collective Security Treaty Organization

The Collective Security Treaty came into force on April 20, 1994 to herald the emergence what would eventually become the Collective Security Treaty Organization. The six member-countries are Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan

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