Sechin: growth in oil prices will begin in the second half of 2017

Sechin: growth in oil prices will begin in the second half of 2017


Sudden jerks will not be up, prices will rise only with the increase in investment programs in the industry, said the head of “Rosneft”.

EKATERINBURG, 25 Nov. The head of “Rosneft” Igor Sechin expects that the increase in oil prices will begin in the second half of 2017.

“I think 2017 will show an increase in the price of oil, the second half of 2017, that will change in the direction of increasing the cost of oil,” Sechin told journalists.

He also added that oil prices will start to rise only with the increase of investment programmes in the industry, sharp jerks.

“Sudden jerks will not be up, because growth must be based on the level of investment, here’s the thing. Going new investments — there will be a price increase. While overall, the sector reduces investment. When the investment programme starts to increase, then the growth will go,” — said the head of “Rosneft”.