Reuters logo
Russia's Surgutneftegaz says sticking to global oil output deal
April 7, 2017 / 11:13 AM / 7 months ago

Russia's Surgutneftegaz says sticking to global oil output deal

MOSCOW, April 7 (Reuters) - Vladimir Bogdanov, the veteran head of Russia’s third largest oil producer Surgutneftegaz , told Reuters on Friday that his company was sticking to a global deal to cut oil output to support crude prices.

The Organization of the Petroleum Exporting Countries and 11 other oil producers led by Russia agreed in December to cut their combined output by almost 1.8 million bpd to reduce bloated global inventories and support prices.

Russian Energy Minister Alexander Novak has said Russia would cut its oil output by 200,000 bpd by the end of the first quarter and by 300,000 bpd by the end of April. (Reporting by Olesya Astakhova; writing by Vladimir Soldatkin; editing by David Clarke)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below