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BREAKING NEWS

Russia's Gazprom Neft sees global oil deal ending in mid-2019

Russia's Gazprom Neft sees global oil deal ending in mid-2019
FILE PHOTO: A oil pump is seen at sunset outside Scheibenhard, near Strasbourg, France, October 6, 2017 . REUTERS/Christian Hartmann/File Photo -
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Christian Hartmann(Reuters)
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SALEKHARD, Russia (Reuters) - Gazprom Neft, the oil arm of Russian gas giant Gazprom, expects the global oil deal between OPEC and its allies to end in the first half of the year, a company official said on Tuesday.

Vadim Yakovlev, first deputy CEO of Gazprom Neft, said the global oil alliance should still remain in place, at least in the form of coordination between the world's top global oil producers.

Gazprom Neft is currently taking long-term investment decisions assuming an oil price of $50 per barrel, Yakovlev said.

(Reporting by Vladimir Soldatkin; Editing by Tom Balmforth)

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