Russia's Lukoil backs extending global oil cuts to end of 2019 - Reuters:
Lukoil, Russia’s second-biggest oil producer, plans to propose that Moscow extend its participation in a global oil production-cutting deal at existing terms to the end of this year, its chief executive Vagit Alekperov told Reuters.
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Russia and some other non-OPEC members along with OPEC countries plan to meet in June or July to discuss whether to extend or change the deal, under which Moscow has pledged to cut its oil production by 228,000 barrels per day (bpd).
“I believe that the level of 228,000 bpd is a relatively small amount and we saw the effect we got,” Alekperov said, referring to an increase in oil prices.
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