Gazprom Neft lays down average oil price of $60 in basic version of strategy until 2030


February 21, Fineko/ Gazprom Neft lays down the average price of a barrel of oil at $60 in the basic scenario of the new strategy for the period until 2030.

Gazprom Neft’s first deputy head Vadim Yakovlev said in an interview for journal Gazprom that the price ranges from $40 to $90 a barrel in other scenarios.

"Several scenarios have been assessed as our vision of the market prospects is the basis of the strategy. We’ve considered a range of forecasts that take into account possible scenarios and correspond to different price levels - from $40 to more than $90 a barrel. There is a model of company development for each of the scenarios. At the same time, the basic version is at the level of about $60 a barrel," he said.

Yakovlev says that according to the baseline scenario, the demand for oil will grow steadily. At the end of last year the demand exceeded 100 million bpd and day is expected to be at least 110 million bpd by 2030.