: :inin Kyiv (EET)

Future of Oil Prices Remains Unclear


Rosneft CEO Igor Sechin stated Friday that if investment in the oil industry goes back up, oil prices may remain at USD 60- 80 per barrel.
Sechin explained that in case this doesn’t happen, then prices could return to USD 100-110 per barrel.
He added that the company’s capital expenditure program will be further cut by 30% this year, The Independent reported.
The Russian giant’s CEO also metioned EU sanctions on Russia and the effect they have on the industry as a whole.
“The sanctions have reverse effects: they damage international shareholders and international stakeholders, they damage partners that manufacture process equipment, they damage …read more

Source: Novinite

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