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Rosneft budget based on oil price of $63 a barrel -Interfax

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Rosneft budget based on oil price of $63 a barrel -Interfax

Rosneft budget based on oil price of $63 a barrel -Interfax
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MAXIM SHEMETOV(Reuters)
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MOSCOW (Reuters) - Russian oil producer Rosneft's <ROSN.MM> budget is based on an oil price of $63 a barrel, CEO Igor Sechin said in an interview with state TV channel Rossia One, Interfax news agency reported.

Commenting on current market situation, he said: "I think the (oil) price will approximately be within a range of $75, maximum $80 per barrel".

Last month, the Organization of the Petroleum Exporting Countries and other producers led by Russia agreed to ease global output cuts, adding around 1 million bpd to the market from July 1 to curb a jump in the crude prices.

Sechin said last month he was satisfied with oil prices rising to $70-$80 per barrel.

(Reporting and writing by Denis Pinchuk; editing by David Goodman and Jason Neely)

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