News // Russia
Rosneft boss expects oil prices between $40 - $43 per barrel in 2018
11 September 2017 , 17:27Neftegaz.RU930
Oil prices are likely to dip in 2018, said Rosneft CEO Igor Sechin on September 11, 2017.
«I think that we are going to have an average oil price of as much as $40 to $43 (per barrel) next year and we are preparing for that,» Sechin said.
The Russian Energy Ministry is more bullish about crude, predicting it will be trading between $45 and $55 per barrel.
According to Sechin, one of the most significant factors here, along with the production of the shale oil, is the large impact of the US financial instruments on prices.
«Devaluation of the dollar now amounted to about 20%, if you quote the appropriate coefficients, you will see that in the U.S. the price is about $ 40,» he said.
«I believe that the OPEC deal has no impact (on the market), it is the dollar devaluation,» Sechin noted.
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