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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. 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 was $65.5 per barrel.
