Head of Russia's Rosneft says U.S. Fed rate decision hitting oil prices

Rosneft Chief Executive Igor Sechin attends a meeting of Russian President Vladimir Putin and Venezuelan President Nicolas Maduro at the Novo-Ogaryovo state residence outside Moscow, Russia December 5, 2018. REUTERS/Maxim Shemetov - Copyright MAXIM SHEMETOV(Reuters)

By Reuters

Published on 26/12/2018 - 14:34•Updated 20/04/2024 - 08:04

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MOSCOW (Reuters) - The head of Russian oil giant Rosneft <ROSN.MM>, Igor Sechin, said the slump in oil prices was mostly linked to a fresh interest rate hike announced by the U.S. Federal Reserve last week.

Sechin added that he saw oil prices at at $50-53 per barrel next year.