“Surgutneftegaz” has laid the business plan on oil prices in the range of $38-45

The General Director “Surgutneftegaz” Vladimir Bogdanov told reporters about the average price of oil in 2016, is incorporated in the business plan of the company. In “Surgutneftegaz” expects that it will not fall below $38 a barrel.

“The last thing we think that it [the oil price] will still be between $38 and 45 per barrel,” — said Bogdanov (quoted by “RIA Novosti”). He noted that this year the company is not going to reduce their investments. According to Bogdanov, in 2016 the company is planning to introduce four new fields.

Experts surveyed by Bloomberg had previously expressed the opinion that the current situation in the oil market reminds of what was happening last year. Then the decrease of quotations resumed in may after a break. The representatives of Commerzbank, BNP Paribas and UBS Group announced that, in their opinion, the rise in oil prices by 70% in comparison with January lows may be due for a correction in the coming weeks. So, Commerzbank noted that “the market is already overheated and a correction is overdue”.

This week the world Bank raised its forecast for oil prices in 2016 by $4, from $37 to 41 per barrel. In the organization explained the revision by factors such as improvement expectations for the reduction of oversupply in the market and a weakening dollar.