Sechin predicts oil price to reach $50-55 per barrel by end of 2016, $65 per barrel by end of 2017

MOSCOW. June 22 (Interfax) – Oil prices will reach the levels of $50-55 per barrel by the end of 2016 and $65 per barrel by the end of 2017, Rosneft (MOEX: ROSN) CEO Igor Sechin said during an interview with Rossiya-24 television.

“The current volatility will continue. We think that by the end of the year we will stably reach the level of $50, maybe $55 per barrel,” he said.

“But, before the end of 2017 we are not seeing fundamental factors, which would lead to an increase in prices. By the end of 2017 we may reach the level of $65 per barrel,” Sechin said.

[featured image is file photo]