BREAKING NEWS

BREAKING NEWS

Rosneft's Sechin comfortable with oil price, says no one wants a spike

Now Reading:

Rosneft's Sechin comfortable with oil price, says no one wants a spike

Rosneft's Sechin comfortable with oil price, says no one wants a spike
@ Copyright :
POOL(Reuters)
Text size Aa Aa

VERONA, Italy (Reuters) - Rosneft <ROSN.MM> CEO Igor Sechin said on Thursday that Russia's largest oil producer was comfortable with the current oil price and no one in the world was interested in a spike, which would jeopardise global economic growth.

He also told a forum in the Italian town of Verona that there was a risk that OPEC may not have enough free oil production capacity to compensate for lower supplies from other producers hit by U.S. sanctions such as Iran or Venezuela.

Sechin also said the global oil sector needed a stable, significant inflow of investments in the long term to compensate for ageing oil-producing assets.

(Reporting by Oksana Kobzeva; Writing by Katya Golubkova; Editing by Susan Fenton)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.