Rosneft CEO expects new oil price records on the market

Fri 25 May 2018 10:57 GMT | 14:57 Local Time

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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.

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