Russia’s Gazprom: $50-$60 per barrel of oil to be best price for 2016
Baku, Azerbaijan, March 10
By Seymur Aliyev - Trend:
An oil price in the range of $50 to $60 per barrel would be the best price for 2016, says Viktor Zubkov, chairman of Russian Gazprom's Board of Directors.
"No one can give an accurate forecast for oil prices today," Zubkov added speaking to Trend's correspondent March 10 in Baku, where he arrived for the IV Global Baku Forum.
"Oil prices have increased up to $40," he said. "If the prices stand at $50 and vary at $50 to $60, I think this would be the optimal price for 2016."
"Everything depends on the development of different countries' economies in different regions of the world, namely China and Europe," he added. "Iran is also entering the market with its oil reserves."
He also said the OPEC meeting, to be held with oil producing countries in March, which are to discuss freezing oil production and, perhaps, reducing its volumes, can contribute to increasing the oil prices to $50 to $60 per barrel.
"It is still unreal to expect that the oil prices will reach $100 per barrel and more," added Zubkov.
The 4th Global Baku Forum, titled "Towards a Multipolar World", kicked off March 10.
The Forum has been organized by the Nizami Ganjavi International Center in partnership with the Interaction Council, the Club of Madrid, Library of Alexandria, the Club of Rome and World Academy of Science and Culture.
Over 300 delegates from 53 countries attend the forum.
The two-day forum will focus on topical issues, such as the role of interreligious dialogue in conflict prevention, migration, multiculturalism, integration and global security.
The forum's agenda also includes prospects for energy and global management issues.