Fedun told why the price of oil soared after the deal, OPEC
. The positive effect of the new agreement, OPEC should be regarded as wagering the prices of petroleum products in the amount of ten dollars per barrel, said the Vice-President of LUKOIL Leonid Fedun in interview to RBC.
"most wonder why oil prices have not soared. She was not able to fly. The market has already played the ten dollars per barrel, which, relatively speaking, was lost in March, which in itself is an achievement, " He said.
Thus, according to the forecast Fedun, in the case of performance of the agreement by all its members to increase oil prices to $ 40 per barrel in the second half of the year. Final balancing of supply and demand you can expect by the end of 2022.
Vice President of LUKOIL said that because of the OPEC agreement " did stop the war."
"Saudi Arabia is a very aggressive start dumping, offering its oil at a discount to the EU of ten dollars per barrel. One thing the futures contracts that we are seeing on the monitors, and the other is delivery. That is, in fact, they began to displace Russian oil from European manufacturers, pocketing the vault ", He said.
The lack of dumping from Riyadh and other Arab oil-producing countries is a significant advantage for the capital of Russia.
According to Fedun, Russia could halve oil production, unless new contract.
"It would be carpeted closure (wells.- Approx. Ed.). Production would have fallen much more. We would not be able to ship oil, except for the factories, but consumption is extremely low in Russia, for this reason, we could be close to 50 % of production. This is not a response, and a realistic assessment ", - He said.
Vice-President of LUKOIL added that the implementation of this scenario would entail huge losses for oil companies.
He also expressed gratitude to President Vladimir Putin and energy Minister Alexander Novak for contributing to the achievement of the contract.
this week it was announced that the countries - exporters of oil has managed to come to a consensus on a new agreement by OPEC , which will be valid until may 2022.
in the next two months the total reduction of oil production to reach ten million barrels per day, then eight million, and in 2021 the six million barrels. Just deal with the involvement of 23 States.
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