BRUSSELS (UrduPoint News / Sputnik – 03rd March, 2020) Russian oil giant LUKOIL plans to maintain oil price at $50 per barrel in its 2020 budget as well as planned capital expenditure despite coronavirus outbreak and OPEC+ restrictions, the company’s vice president told Sputnik on Tuesday.

“No, we will not. This is a very conservative [estimate] $50 per barrel,” Leonid Fedun said, when asked if the company was planning to change its oil price estimates and capital expenditure due to coronavirus impact and OPEC+ limits.