We expect crude oil price to be in the range of $60-80 per barrel, said Shashi Shankar, CMD, ONGC.

“This is a cyclical activity. In 2014, we saw oil prices going above $120 per barrel then suddenly it came down and now slowly it has gone up to $70-75 per barrel,” he said.

Speaking on stoppage of payments by Venezuela, he further added that, "We have dues of over $400 million from Venezuela and different options are being worked out but no concrete decision has been taken.”

First Published:Jun 8, 2018 3:21 PM IST