InfoAnda - LUKOIL CEO sees $70-90 as fair oil price

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: LUKOIL CEO sees $70-90 as fair oil price - report Reuters - Thursday, December 18 MILAN, Dec 18 - A fair price for a barrel of oil is between $70 and $90, LUKOIL's <LKOH.MM> chief executive said in an interview published on Thursday. "The current one does not favour working in some fields nor new exploration under extraordinary conditions," Vagit Alekperov was quoted as saying to Italian daily Corriere della Sera. "The right price is between $70 and $90. The price will stabilise at a favourable level for producers and consumers," he added. Oil <CLc1> extended it losses to below $40 a barrel on Thursday after rising U.S. crude inventories and further evidence of slowing demand offset OPEC's production cut. Alekperov attended the OPEC meeting in Oran, Algeria where oil ministers agreed on Wednesday agreed to cut production by 2.2 million barrels per day in a bid to balance supply with rapidly falling demand. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Oil Price Hike Kazakh KazMunaiGas may cut 2009 oil outputReuters - 46 minutes ago Oil hovers near 4 1/2-year low despite OPEC cutAP - 1 hour 13 minutes ago Russian oil output will decline as demand fallsReuters - 1 hour 37 minutes ago OPEC cut fails to rally oil price in global downturnAFP - Thursday, December 18 Related Articles: Business India's new oil subsidy plan by mid-Jan - sourcesReuters - 20 minutes ago Euro zone imports and exports fall, outlook grimReuters - 24 minutes ago Jobless claims expected to stay near 26-year highAP - 26 minutes ago Energy, bank stocks lead European shares lowerReuters - 26 minutes ago Turkish lira gains 2 pct, rate cut eyedReuters - 32 minutes ago Related Full Coverage oil price hike oil price hike All Full Coverage Most Popular – Business Viewed 'Dark energy' expands, contracts universe: researchers Actress Jennifer Aniston appears naked in GQ magazine Bush laughs off Iraq flying shoes drama US doctors hail near-total face transplant Dollar dives to 13-year low against yen after Fed cut View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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