Caspian Energy Journal Caspian European Club
Friday, 22 September 2017 11:00

Price range $50-60 acceptable for producers

Price range $50-60 acceptable for producers

“In general, all countries are committed to fulfilling their voluntarily assumed obligations. The situation on the oil market shows that the deal is working”, Minister of Energy of the Russian Federation Alexander Novak said on the eve of the session of the OPEC-Non-OPEC Ministerial Monitoring Committee, commenting on the implementation of the oil output cutback deal, Caspian Energy News ( reports with reference to the press service of the Ministry of Energy of the Russian Federation.

According to Alexander Novak, today's oil price, which is formed on the market in the range between $50 and $60, could be acceptable for both producers and consumers.

“Our main objective is to bring back confidence and investments into the industry”, the minister stressed.

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Person in charge of the newsline: Fidan Isayeva


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