Rothschild: 2018 year will be stable for oil market

Baku. 20 December. REPORT.AZ/ OPEC and Russia are pleased with the current situation in oil market on the background of stabilization of prices at $ 60/bbl. They will continue to negotiate a reduction of oil production in the next 12 months to protect this stabilization. 

Report informs citing the Forexpf.ru, said Paolo Scaroni, Vice Chairman N M Rothschild & Sons Ltd.

Scaroni said that despite the increase in shale oil production in the United States, this growth is not acute.

The growth in world oil demand can compensate for an increase in oil production in non-OPEC countries.

Scaroni, ex-CEO of Italy's Eni oil and gas company, says the situation in the oil market will stabilize the current level of prices by 2018.

Scaroni also noted that the decline in investment in the oil sector in recent years will make itself felt in 2019.