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, first deputy CEO of Gazprom Neft Vadim Yakovlev said.
According to him, the global oil alliance should still remain in place, at least in the form of coordination between the world’s top global oil producers.
Yakovlev said that Gazprom Neft is currently taking long-term investment decisions assuming an oil price of $50 per barrel, Reuters reported.
The first deputy CEO of Gazprom added that the countries should form acceptable long-term corridors for oil prices.
