OPEC, non-OPEC producers to increase output if prices rise, says Lukoil CEO

03/12/2017 Argaam

 

OPEC and non-OPEC oil producers will raise production if oil prices increase, Reuters reported on Friday, citing CEO of the Russian oil producer Lukoil, Vagit Alekperov.

 

Oil prices should reach $60-65 per barrel to avoid sharp hikes as it happened in 2000.

 

On Thursday, OPEC and its allies agreed to extend production cuts of 1.8 million bpd or around two percent of global supply, until the end of 2018. 

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.