The general director of the Russian oil producer Gazprom Neft, Alexandr Diúkov, predicted on Monday that crude oil prices could range between 80 and 110 dollars a barrel this year.
This, after stating that there is a surplus in the oil market, as well as noting that the decision to reduce oil production in Russia is aimed at balancing it.
“The most likely (price) range will be 80 to 110 (dollars per barrel),” Diukov told reporters, quoted by the Sputnik agency.
In this sense, he stressed that the volatility in the oil market will be relatively high, but he also pointed out that there are a series of instruments to reduce it.
For this, the alliance of the countries of the Organization of Petroleum Exporting Countries (OPEC) and independent producers is proposed.
“Oil and petroleum products that used to be supplied to certain markets are now going to other markets. Of course, this leads to increased transportation costs and affects the price for buyers of oil and oil products. It is a consequence of the sanctions against Russia », he pointed out.
It should be remembered that Russian Deputy Prime Minister Alexandr Nóvak announced that Russia would cut oil production by 500,000 barrels per day, starting in March, to restore market relations.
This, after the hydrocarbon embargo by the European Union came into force at the beginning of February
These actions were supported by the Group of Seven (G7), Australia and the European Union.