Thursday , August 5 2021

Russia may reduce oil production if it helps markets ::

Russia may reduce oil production if it helps markets

Russian Energy Minister Alexander Novak. Photo: Reuters

Russian energy company chief Rusenut Evgeni Tolochek said Russia could help reduce oil production if it helped the markets, after a regular annual meeting between Energy Minister Alexander Novak and representatives of Russian oil and gas companies.

Russian energy companies participating in the discussion with Novak, Rosneft, Gazprom Neft, Tatneft, Transneft, Novatek and Surgutneftgaz names, reports.

According to Ravil Maganov, one of the directors of Lukoil, the Russian oil company hopes to continue its co-operation within the framework of an agreement with the Organization of Petroleum Exporting Countries (OPEC), but a number of issues such as reduction of supply. and production and special values.

"We discussed possible co-operation with other countries and decided it was absolutely necessary." Said.

Lukoil asked if Saudi Arabia is planning to cut its oil supply in December, but did not plan to cut its production, Maganow said, noting that the debate with Novak did not address the issue.

Traditionally, each year, the Energy Minister discusses the Russian position on an international level ahead of the OPEC meetings with the representatives of local energy companies, both internally and with the partners of the organization.

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