Lukoil head: current oil price "fairly high"

President of Moscow-based Lukoil Vagit Alekperov has argued that the current oil price is “fairly high”

Alekperov has predicted the oil price will remain at its current levels until the end of 2018, and then stick between $70 and $75 per barrel next year, RIA Novosti reported.

Yesterday meeting of major oil exporters in Abu Dhabi has "discussed a proposal for some kind of cut in (crude) supply next year", state-run Kuwait News Agency KUNA cited a Kuwaiti oil official as saying.

Saudi Energy Minister Khalid al-Falih confirmed that Saudi will pump half a million barrels less in December, due to falling demand.