Lukoil projected average oil price of $ 60 a barrel by 2020

Lukoil forecasts are for an average oil price of $ 60 per barrel for the period 2010-2020, and it founded the company in preparing its estimates for the extraction of oil for the period. It said the president and co-owner of Russian oil company Cream Alekperov, quoted by Prime-Tass. According to him, Lukoil continues to address the issues of new acquisitions in the coming years, but more will focus on exploration and production sector of the oil. In connection with its deposit of natural gas in the northern Caspian Sea Lukoil intends to build a gas pipeline with a length of 800 kilometers by 200 kilometers of them will be at the bottom of the sea, 600 kilometers - the land is still Alekperov announced, adding that the construction would be costly to the marine part. Gazprom already has determined where it would be the point of connection to the country's gas pipelines. Lukoil boss pointed out that this gas pipeline, which will build the company can become part of ensuring the supply of gas pipeline South Stream.

The price of oil jumped nearly 5%

Futures for crude oil increased its value by nearly 5 percent during trading in New York after the sharp drop in U.S. currency, made earlier in the day. Oil with delivery in October closed at 71.10 dollars a barrel, exceeding the level of 71 dollars for the first time since August 31. Earlier in the day and had reached a level of 71.95 dollars per barrel. Investors remain pending the Wednesday meeting in Vienna of the Organization of Petroleum Exporting Countries (OPEC), of which almost certainly will be received some good news for use in "black gold". According to most analysts on the stock markets are expected OPEC to keep production unchanged until the recovery of the economy oil demand will most likely resume its growth. To maintain production quotas recently suggested some members of the oil organization.