Rosneft CEO expects new oil price records on the market

Fri 25 May 2018 06:57 GMT | 10:57 Local Time

Text size: bigger smaller

Igor Sechin also noted that sanctions make operations on the global oil sector unpredictable.

The global oil market may see new price records soon, Chief Executive Officer of Russia’s top oil producer Igor Sechin said at the St. Petersburg International Economic Forum on Friday, adding that the expectation is related not to OPEC+ deal, but to the policy of unilateral sanctions, TASS reports.

"The policy of sanctions and ultimatums applied to hydrocarbons markets will inevitably lead to a permanent ‘sanctions premium’ in the price. I do not rule out that we will be able to speak about a sanctions-related commodity ‘super cycle’ after a while, and see new price records in the near future," he said.




Most read articles

More from World

In The Region

Editor's Picks

Azerbaijan Cuisine

Explore the food of Azerbaijan - from sherbet to succulent kebab, from baklava to fragrant pilaff

Follow us

Find us on Facebook

Real estate

Virtual karabakh