Russia’s Top Oil Producers Support Extension of OPEC+ Cuts12 Feb 2020 23:38
Russia still swinging big dicks hovering over cut button...
"Final decision is for the government, says Gazprom Neft CEO
Most companies ‘inclined to extend,’ says Lukoil’s Maganov"
"Russia’s key oil producers voiced support for the idea of extending OPEC+ output cuts into the second quarter, as the global oil market awaits a definitive response to the coronavirus outbreak.
Executives who attended a meeting with Russian Energy Minister Alexander Novak on Wednesday said there was no final decision and gave no indication of whether deeper cuts were proposed or discussed.
“Most of the companies are inclined to extend for one more quarter” the current deal between the Organization of Petroleum Exporting Countries and its allies, Ravil Maganov, first vice president for Lukoil PJSC, told reporters after the meeting in Moscow.
Gazprom Neft PJSC, the oil arm of gas giant Gazprom PJSC, thinks it makes sense to extend the current cuts into the second quarter “and then to monitor the situation and act in line” with it, Chief Executive Officer Alexander Dyukov said."
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