Al-Jebouri Says Iran Is a Lukoil Focus Oil will stabilize around $55 to $65 a barrel as OPEC fulfills its agreement to cut output, with stockpiles and shale production keeping prices from rising much more, the Middle East head of Lukoil PJSC said. Russia’s second-largest oil producer hasn’t had to reduce production in Iraq as a result of the curbs pledged by OPEC, Gati Al-Jebouri said Monday in a Bloomberg television interview. Lukoil’s output in Iraq is about 400,000 barrels a day, he said. OPEC’s cutbacks have brought a period of stability to the market, he said. Lukoil Vice President Gati Al-Jebouri “We have a lid because of shale oil and we have a bottom because of the already proven decision and willingness of OPEC to maintain prices at a reasonable level,” Al-Jebouri said. The Organization of Petroleum Exporting Countries, […]