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RUSSNEFT SEES NO PROBLEM WITH FURTHER OIL PRODUCTION CUT

18.05.2017 INTERFAX

Moscow. RussNeft is willing to cut down oil output in case of extension of the agreement between OPEC and non-OPEC countries, the company`s owner Mikhail Gutseriev said to journalists.

“No problem. We would keep freezing it further”, he said in response to the question what is the Company`s stance on the possible extension of the production cut agreement until March, 2018.

RussNeft reportedly fulfilled its obligations under the production cut agreement between the OPEC and non-OPEC countries by mid-April, having reduced the production by 560 tonnes per day to 19.08 thousand tonnes, since January.

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