"Oil price will rise"

Seven forecasts of Igor Sechin about the cost of hydrocarbons

For many years in a row, one of the most important events of the St. Petersburg International Economic Forum is the performance of Rosneft President Igor Sechin. In it, it, as a rule, gives a forecast for the state of the oil market and prices for the most important resource for the country. On the eve of PMEF-2015, Igor Sechin has already stated that, in his opinion, the price of oil would rise. Medusa studied and compared other forecasts of the head of the country's largest oil company.

June 5, 2009. Brent oil price in the world market is $ 67.77 per barrel

This [reduction of investment in exploration and production] cannot but lead to a reduction in production, which, in turn, will automatically lead to an increase in oil cost. And the forecast expressed by the Minister of Oil Saudi Arabia in $ 150 for a barrel, in two to three years, may be realistic.

June 21, 2013. Oil price - 100.36 dollars per barrel

The average annual oil prices in 2010 at $ 80 per barrel did not prevent the global economy from providing a record annual growth of 5.2%. Even in 2011-2012, at average prices, about 110 dollars, the world economy grew more than 3% per year. The price of oil is not a significant restraining growth factor. [...]

Obviously, there is a limit to the growth of oil prices and costs, the costs of other industries, when the increase in prices can become a brake for the development of other sectors of the economies. Empirically, this limit was groped for three times. According to our experts, it was in 1980, 2008 and 2011. In comparable prices, this is approximately $ 120 per barrel, sometimes even higher. [...] The price level exceeding $ 120 is not accepted by the global economy.

In general, [now] the price situation is balanced, there are no reasonable reasons for the further growth of world oil prices, however, even fewer reasons to expect any significant fall.

May 24, 2014. Oil price - 110.1 dollars per barrel

In relation to the most important indicator-oil prices-factors are valid in favor of their certain stability in the range of $ 90-110 per barrel. With an increase in tension and appropriate risks, it is possible to exceed both the upper and lower boundary of this range.

September 29, 2014. Oil price - $ 95.7 per barrel

Below $ 90 per barrel, oil price will not fall. This is due to a number of factors. But 90 is a good price. It allows you to work.

November 28, 2014. Oil price - $ 71.89 per barrel

I believe that on average, according to the results of 2015, the price can range from 70 to 75 dollars. The first half of the year will be quite severe, as it seems, in connection with the influence of situational factors, such as, for example, hedging by independent shale oil producers in oil banks in American banks. But this factor is temporary.

February 16, 2015. Oil price - $ 60.33 per barrel

If you look at the fundamental market factors, then, probably, prices will soon recover to a level of $ 60-80 per barrel [...] But if the market is deformed and price restoration will take longer than it should, many mining products will be mothballed, and then prices will rise to $ 90-110 or even higher.

June 17, 2015. Oil price - $ 61.3 per barrel

Not only the price of oil influenced our capitalization [Rosneft], but also sanctions that limited our access to international financial resources. [...] Oil price will rise.