Lukoil: oil at $60-65/bbl comfortable for OPEC+ producers

An oil price of $60-65 per barrel would be comfortable for participants in the deal agreed by the OPEC+ group of producers to limit supply, vice president of Russian oil producer Lukoil Leonid Fedun said.

Fedun said price shocks would only happen if producers violate their commitments, Reuters reported.

Earlier, the OPEC+ group of producers have committed to some of the sector’s deepest output cuts in a decade starting January 1 in an effort to avert oversupply and support prices.