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Lukoil’s Alekperov Sees Oil Above $85/Bbl By Year-End: Interfax

OIL

Crude oil price are expected to exceed $85/bbl by the end of this year, Lukoil shareholder, Vagit Alekperov said according to Interfax.

  • The market will balance because there is demand for crude oil, he added.
  • The latest UBS forecasts suggest Brent prices to rise to $90/bbl by year-end. Goldman Sachs expects prices to reach $86/bbl, while JP Morgan forecasts Brent to rise to $81/bbl. Barclays remained the most bullish in its forecasts with Brent prices to reach $95/bbl in December.

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