December 17, 2019 / 8:06 AM / 4 months ago

Oil at $60-65/bbl 'comfortable' for OPEC+ producers - Lukoil

MOSCOW (Reuters) - An oil price of $60-65 per barrel would be comfortable for participants in the deal agreed by the OPEC+ group of producers to limit supply, Leonid Fedun, vice president of Russian oil producer Lukoil (LKOH.MM), said on Tuesday.

The OPEC+ group of producers have committed to some of the sector’s deepest output cuts in a decade starting Jan. 1 in an effort to avert oversupply and support prices.

Fedun said price shocks would only happen if producers violate their commitments.

At 0753 GMT, the price of Brent crude oil LCOc1 was $65.5 per barrel.

Reporting by Olesya Astakhova; writing by Alexander Marrow; editing by Jason Neely

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