Russia’s Lukoil talks on possible oil price of $100 per barrel

Russia’s Lukoil doesn’t expect oil prices to reach $100 per barrel any time soon, President and co-owner of the company Vagit Alekperov said during a session at the Abu Dhabi International Petroleum Exhibition & Conference 2021 (ADIPEC), Report informs.

“I don’t think we will see the price [of oil] at $100 [per barrel] anytime soon,” he said.

Alekperov noted that Lukoil is setting the price of a barrel of oil at $60 for 2022 in the company’s budget. At the same time, he noted that fluctuations in the price of oil in the market are possible due to the unpredictability of the further development of the COVID pandemic.

“We aren’t interested in high prices. Our mission and the mission of OPEC+ is to meet demand in the first place. Therefore, today OPEC+ countries don’t set a sharp rise in oil prices as a strategic goal,” he added.