In general, the global oil market can recover from the consequences of the coronavirus pandemic already by the spring of next year, but the fluctuations in raw materials will be serious. According to the President and co-owner of LUKOIL, Vagita Alekperova, they can change zero to infinity, transfers TASS.
According to his forecasts, the recovery will occur just after the expiration of the OPEC transaction + to contain production. “We hope for all that this time the market will be restored. Plus, probably will affect the deferred demand,” promised Alekperov.
Head “Lukoil” clarified that the transaction itself would most likely be saved. “But oscillations on the market are possible from zero to infinity,” he said, and stressed that the prices are currently stable.
Earlier in June, Deputy Prime Minister of Russia Alexander Novak called a condition in which oil will rise to $ 200 per barrel. He believes that this is possible in case of termination of the financing of new oil projects. “I can’t imagine that the investments in new oil projects are stopped by tomorrow. Well, what will happen? Prices will probably be on oil 200 dollars, or gas prices take off. Volatility will increase,” so he commented on the recent supply of international energy Agencies (MEA).
According to the head of the Accounts Chamber of Alexey Kudrin, the sunset of the oil era may occur after 10 years. He believes that investing in the development of alternative energy sources is necessary now.
The Russian President Vladimir Putin said about the development of green energy. During the speech at the St. Petersburg International Economic Forum (PMEF), he, among other things, called for Russian companies buying hydrocarbons abroad, invest in Russian climatic projects. The head of state demanded to refract Europe on the issue of salvation of climate, reducing the volume of greenhouse gas emissions in Russia for 2050 than in the EU.