Lukoil Hopes Crude Prices To Top $50 In H1 2021, Allowing To Intensify Investments - CEO

Sumaira FH Published October 28, 2020 | 08:45 PM

Russian oil major Lukoil hopes for an increase in oil prices in the first half of 2021 to $50 per barrel and above, this will allow the company to intensify investments, its CEO Vagit Alekperov said on Wednesday

MOSCOW (UrduPoint News / Sputnik - 28th October, 2020) Russian oil major Lukoil hopes for an increase in oil prices in the first half of 2021 to $50 per barrel and above, this will allow the company to intensify investments, its CEO Vagit Alekperov said on Wednesday.

"We still hope that in the first half of next year the price will rise to $50 [per barrel], maybe higher. This is already a price that will allow us to intensify our investment programs," Alekperov told the Rossiya 24 broadcaster.

The most pessimistic scenario is the stabilization of the oil market only in late 2021, he added.