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Rosneft's Sechin says Russia has potential to raise oil output

Thu, 20th Oct 2016 08:31

VERONA, Italy, Oct 20 (Reuters) - Russia, already theworld's top oil producer, has the potential to increase oiloutput further in the future by up to 200 million tonnes a year(4 million barrels per day), Rosneft Chief Executive Igor Sechintold a forum on Thursday.

"In the next year and a half we should see the end ofsurplus (on global oil markets) and the start of the process ofthe situation normalising," Sechin said, adding that he saw oilprices rising to above $55 per barrel by then. (Additional reporting by Giancarlo Navach; Reporting by OksanaKobzeva; writing by Katya Golubkova; Editing by Christian Lowe)

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