Vagit Alekperov: We should prevent oil prices reaching $ 150

Baku. 24 January. REPORT.AZ/ Oil price should stabilize as a result of OPEC+ production cut deal, but we should prevent oil prices to reach $ 150/barrel.

Report informs referring to the TASS, Vagit Alekperov, President of Russia's LUKoil said in the Davos Economic Forum, Switzerland.

"It feels like that $ 70 no longer satisfy governments of oil-producing countries. We have to set the price to norms of years 2011-2012 and then quit the deal. We should prevent jump in oil prices again, as it previosly soared to $ 140-150", he said.

Alekperov added that LUKoil has set its budget at $ 50 in the next three years.