The head of «LUKOIL» are concerned about the sharp rise in oil prices

© RIA Novosti / Vladimir Astapkovich in Photobacterium, member of the Board of Directors and Chairman of the Board of JSC LUKOIL Vagit Alekperov during the forum the Russian energy week. October 4, 2018The head of «LUKOIL» are concerned about the sharp rise in oil prices© RIA Novosti / Vladimir Astapkovich the image Bank

The head of «LUKOIL» Vagit Alekperov stated concern about in recent months a sharp increase in the price of oil and the fact that it is caused by political factors and speculators.

«Today, we scary that situation with such a sharp increase in the price of oil. We are afraid that political factors sufficiently strong influence on the price of oil. On the market there are a large number of speculators», — said Alekperov, speaking at the plenary session of the Russian energy week.

The price of Brent crude oil this year, entrenched above $ 70 per barrel, and since mid-August, it is almost ceaselessly growing, innovating and renewing the highs since November 2014. The next mark — at $ 86 per barrel, the quotes took on Wednesday, October 3. In total since mid-August Brent rose by about $ 15, that is more than 20%.

One of the main factors of this growth of prices is the expectation of the entry into force in early November, the U.S. sanctions against Iran’s oil sector, which States seeks to reduce to zero the export of «black gold» from the country. Russian energy Minister Alexander Novak in an interview with RIA Novosti called the main uncertainty at the moment for oil prices. According to him, this risk adds to the price of 5-7 dollars for barrel.

Russian energy week (REN) held 3-6 October. MIA «Russia today» is an information partner of the event.