The current level of oil prices, comfortable for Rosneft, Sechin said

© RIA Novosti / Sergey Goneeverything in photobunny Executive Director of JSC NK Rosneft Igor Sechin. Archival photoThe current level of oil prices, comfortable for Rosneft, Sechin said© RIA Novosti / Sergey Goneeverything the image Bank

The current level of oil prices, comfortable for Rosneft, it reflects the balance of supply and demand, said the head of «Rosneft» Igor Sechin.

«Speaking about the current level of oil prices, I can say that it is comfortable for us and on the whole largely reflects the existing balance of demand and supply,» said Sechin, speaking at the Eurasian forum.

Oil is currently trading at 75 dollars per barrel of Brent and $ 66 per barrel WTI.

Many market players admit the possibility of the further rise in price of oil in late 2018 — early 2019 — to the mark of 100 dollars per barrel (first of 2014) due to the reduction in exports from Iran amid us sanctions. Russian energy Minister Alexander Novak said that the price in 100 dollars for barrel will not reflect the balance of supply and demand on the world market, high prices will reduce oil consumption, and that none of the producers are not interested.

The current level of oil prices, comfortable for Rosneft, Sechin said© Infographicsrussia forces in the world oil market

Source