The President of the largest private oil company of Russia “LUKOIL” Vagit Alekperov expects the oil price will return to the level of 50 dollars per barrel by the end of this year or early next year, reports “Interfax”. According to him, the bottom is found at the level of $ 30.
“We demonstrate 40-42 per barrel even after the meeting in Doha. This suggests that we come to the period of price stability and an increasing trend,” he said.
He added that the market was not expecting any breakthrough from the talks on freezing the oil in Doha. However, Alekperov considers it appropriate to continue such negotiations.
April 17 in the Qatari capital Doha hosted a meeting of representatives of the countries-manufacturers of oil. It was expected that the parties will sign an agreement to freeze production to prevent further fall of prices for hydrocarbons.
The deal, however, did not take place — Saudi Arabia declined to sign any documents without the participation of Iran. The representatives of the Islamic Republic in Doha has not arrived. Later FT was spread information that during the failure of the agreement is the Saudi Arabia Prince Mohammed bin Salman.
In light of the information about the failure of the talks Brent crude fell almost 5 percent to 40,16 dollar and the U.S. currency rose to 68.3 ruble.
