BREAKING NEWS

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

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 -
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MAXIM SHEMETOV(Reuters)
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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.

(Reporting by Olesya Astakhova and Vladimir Soldatkin; Writing by Gabrielle Tétrault-Farber; Editing by Robin Pomeroy)

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