Russia sees Oil Price at $60-70 in Next 3 Years

Reuters

VIENNA, June 3 (Reuters) - Russia has a long-term goal of maintaining oil production at current levels of around 10.5 million barrels per day and expects oil prices to fluctuate between $60 and $70 per barrel in the next three years, the country's energy minister said.

"Prices that we are seeing today are quite comfortable for the global oil industry and the market," Alexander Novak told a seminar in Vienna on Wednesday with OPEC oil ministers and chief executives of global oil majors.

(Reporting by Dmitry Zhdannikov; Editing by Dale Hudson)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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