Oil prices rise after OPEC extends output curbs
Olivier Jakob
“Without the reference to a June review  Russia would have been tied to the end of 2018; it wanted instead to have an escape clause ”  Petromatrix strategist Olivier Jakob  said.
“It leaves a question mark about the second half [of 2018] and about the commitment of Russian oil companies  which will be price dependent ”  he  said.
The CEO of Russia’s top private producer Lukoil told Reuters  he  would like to see the price of oil stable at current levels  trading in the $60-65 per barrel range.
The oil market is unlikely to overheat   he  added  thanks to cooperation between OPEC and its allies which would allow them to release new output into the market to rebalance it.
“Without the reference to a June review  Russia would have been tied to the end of 2018; it wanted instead to have an escape clause ”  [TGT]said.
“It leaves a question mark about the second half [of 2018] and about the commitment of Russian oil companies  which will be price dependent ”  [TGT]  said.
The CEO of Russia’s top private producer Lukoil told Reuters  he  would like to see the price of oil stable at current levels  trading in the $60-65 per barrel range.
The oil market is unlikely to overheat   he  added  thanks to cooperation between OPEC and its allies which would allow them to release new output into the market to rebalance it.