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  Tuesday, November 12, 2019
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The high prices of oil will remain so for a long time
The high prices of oil will remain so for a long time, Gennadi Shmal, president of the Russian Oil and Gas Industrialists' Union and chairman of the board of directors of the company Rosneftegazstroi, said in a broadcast of the Moscow's Echo radio station on Thursday. "I think we will for a long time see the oil prices remaining within the price corridor of 28 to 32 dollars per barrel", Shmal said, specifying that the Urals oil is meant. In his opinion, Iraqi oil will take time affecting the world prices of oil. "A year has passed since the start of the operation in Iraq but nothing has happened in the Iraqi oil industry. It has not yet been rehabilitated or even set to", Shmal said. In his opinion, Iraqi oil will begin to tell on the world prices in three years. Commenting on the evacuation of Russian specialists from Iraq, he voiced the hope that "it is a matter of time". "Lukoil and other Russian companies hope for cooperation to be continued", he said. The expert hopes that the companies will be able to return to Iraq in three to four months to come. "If only the Americans take the right steps. They are interested in Iraqi stabilisation", he noted.
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