Friday, January 16, 2015

Russian oil company CEO says oil price could reach $25 per barrel

The price of oil could fall to $25 per barrel, head of Lukoil Vagit Alekperov told journalists on Friday.

Alekpetov said that based on the latest statements from Saudi Arabia, he cannot rule out a price drop to $25. He added that he expects significant price fluctuation this year, considering that by January 15 the price varied within a 10% range.

"That has never happened before" Alekperov said.

The Organization of the Petroleum Exporting Countries (OPEC) reported Thursday the global oil demand forecast has been raised for 2015 to 92.3 million barrels per day from 92.26 million bpd. The US oil output forecast for 2015 has been raised to 13.81 million bpd from 13.72 million bpd. 

The organization also said it expects decline in demand for oil from organization’s member-states in 2015 by 100,000 barrels per day to 28.8 million barrels. 

After the announcement the price of Brent futures for February delivery grew by 0.7% on the Intercontinental Exchange (ICE) in London on Thursday to $49.07 per barrel.


  1. Lukoil: Η Τιμή του Αργού Μπορεί να Πέσει Ακόμη και στα 25 Δολ. το Βαρέλι ...

    Η τιμή του πετρελαίου θα μπορούσε να πέσει ακόμη και στα 25 δολ. το βαρέλι, δήλωσε στους δημοσιογράφους ο επικεφαλής της Lukoil, Vagit Alekperov, την Παρασκευή.

    Ο Alekpetov τόνισε ότι, με βάση τις τελευταίες δηλώσεις αξιωματούχων της Σαουδικής Αραβίας, ο ίδιος δεν μπορεί να αποκλείσει μια πτώση των τιμών έως τα 25 δολ. το βαρέλι. Πρόσθεσε ότι αναμένει σημαντική διακύμανση των τιμών κατά το τρέχον έτος, λαμβάνοντας υπόψη ότι στις 15 Ιανουαρίου, η τιμή κυμαίνεται σε ένα εύρος 10%.

    «Αυτό δεν έχει συμβεί ποτέ πριν», υπογράμμισε ο Alekperov.

  2. The secretary-general of Organization of the Petroleum Exporting Countries (OPEC) Adballa Salem El Badri does not rule out a drop in oil prices below $40 a barrel...

    “The oil market is oversupplied, while the demand is declining amidst weak economic growth forecasts,” he said at the World Economic Forum in Davos, Switzerland. He added that the crude oil prices might fall “to $40 a barrel and even below that level.”

    The problem is that the plunge in oil prices was too sharp, and fundamental market indicators do not correspond to a 40-50% drop, Adballa Salem El Badri said.

  3. The price $45 a barrel is a temporary phenomenon, the chief economist of the International Energy Agency (IEA) Fatih Birol said on a panel at the World Economic Forum in Davos, Switzerland, on Wednesday...

    “The second half of 2015 will witness a surge in crude oil prices, and thus I think that the $45 a barrel oil is a temporary phenomenon,” he said. Birol also added that oil investments are going to fall by 15% or about $100 billion this year.

  4. Eni CEO Says Oil Prices Could Jump to $200 a Barrel ...

    Claudio Descalzi, the head of Italian energy company Eni Spa, urged members of the Organization of Petroleum Exporting Countries (OPEC) to act to restore stability in oil prices, otherwise oil prices could rocket to $200 per barrel within the next few years due to low investment now, Reuters reports.............

  5. Oil Prices Not Expected to Return to $100 per Barrel ...

    The oil prices will not return to $100 per barrel, the Venezuelan President Nicolas Maduro said.

    "The oil won't return to 100 [dollars per barrel], it won't return. We have to generate new sources of income to the country," the president said, speaking at Venezuela's National Assembly Wednesday, as quoted by Nueva Prensa De Guyana daily.

    Venezuela's economy relies on oil production to a great extent, with oil accounting for 95 percent of the country's exports and comprising 45 of budget revenues...........


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