Russia’s Sechin sees sub-$60 oil in 2015

摘要

Moscow-The head of Russian state-run oil giant Rosneft, Igor Sechin, believes oil prices could drop to $60/b or below by mid 2015, causing further pain to the world’s number two oil producer as it struggles to maintain output in spite of tumbling oil revenues. Russia’s currency extended its slide into record low territory Friday following Thursday’s decision by OPEC to rollover its output target, feeding market concerns of a growing glut in global oil supplies. Brent crude broke $70/b on Friday, extending heavy losses in the wake of OPEC’s announcement and taking the fall in the benchmark oil contract since June to almost $45/b.