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