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NEW YORK, December 6th. / TASS /. Lukoil's president, Vagit Alekperov, hopes that a substantial reduction in oil production will not be necessary, but he is ready to take the appropriate decision if Russia agrees to accept it as part of the OPEC + transaction. Alekperov said in an interview with the Bloomberg Economic News Agency, an excerpt of which was released on Wednesday.
"I hope these measures may not be necessary," he said in Vienna, where the OPEC + ministerial follow-up committee met on Wednesday.
According to Alekperov, according to Bloomberg, the price of $ 60 per barrel meets the needs of producers and consumers and should be maintained at this level in January.
If Russia accepts the proposed reduction, Lukoil will need three or four months to fully comply with the relevant instructions, he added.
Lukoil currently expects to increase 1% oil production in 2019. According to Alekperov, if the decision to reduce oil production at OPEC + level is taken, the company will adjust its plans.
The Minister of Oil and Gas of Oman, Mohammed Bin Hamad Ar-Rumhi Following the meeting of the ministerial follow-up committee of OPEC + earlier Wednesday, said the countries participating in the OPEC + agreement concluded in the first half of 2019 could reduce oil production by 1 million barrels a day. The Committee recommended to reduce production in the first half of 2019. It is planned to reduce the level of October 2018.
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