Bank Of Baku

LUKoil’s President: Oil’s $100-price is more just

LUKoil’s President: Oil’s $100-price is more just
# 17 May 2011 08:38 (UTC +04:00)
Baku. Ali Ahmedov – APA-Economics. “Oil’s $100-price is more just. Oil-gas market changed”, said the LUKoil’s President Vahid Alakbarov at video-interview which posted on the blog of Kazakh Prime Minister.

“I consider that, the oil market is full. The just price is somewhere $100, or a little higher. We saw the prices rose until $125, today, the prices fell. This indicates that the market is inconstant”, he said.

According to him, 20-30% of oil price is speculative capital: “The capital is invested in oil and metals to compensate the lower incomes from bank deposits and other financial instruments. Oilmen need stable prices that we can plan our investment programs”.
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