LUKoil president: High price of oil also dangerous

Baku. 4 October. REPORT.AZ/ Russia's LUKoil company is in fear of high oil price and supports Russia’s soft exit from OPEC+ agreement.

Report informs citing the TASS, president of LUKoil company Vagit Alekperov said in an interview with Russian Energy Week.

"Today, high price of oil is also fearful for me as the low price level. Personally, I do not support oil prices in the range of $ 60-70/barrel. This can lead to the recurrence of the situation in 2014. Therefore, as we timely signed agreement, we must exit softly in time, not to have a shortage of oil in the market", V. Alekperov said.

The head of LUKoil emphasized that discussions on the extension of the OPEC+ agreement should be carried out in line with the oil prices in the first quarter of 2018.