Russia's Rosneft says to abide by possible oil cuts extension deal

Reuters  |  MOSCOW 

MOSCOW (Reuters) - Russia's largest producer will fulfil obligation to further cut production if such an agreement would be achieved, Rosneft's chief financial officer Pavel Fedorov said during a conference call on Wednesday.

He also said it was premature to "speculate" on possible scale and time frame of the deal.

and industry sources told that the group and non-member producers were considering extending the global supply cut for nine months or more to avoid a price-sapping output increase in the first quarter of next year, when demand is expected to be weak.

(Reporting by Vladimir Soldatkin; editing by Polina Devitt)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Russia's Rosneft says to abide by possible oil cuts extension deal

MOSCOW (Reuters) - Russia's largest oil producer Rosneft will fulfil obligation to further cut oil production if such an agreement would be achieved, Rosneft's chief financial officer Pavel Fedorov said during a conference call on Wednesday.

MOSCOW (Reuters) - Russia's largest producer will fulfil obligation to further cut production if such an agreement would be achieved, Rosneft's chief financial officer Pavel Fedorov said during a conference call on Wednesday.

He also said it was premature to "speculate" on possible scale and time frame of the deal.

and industry sources told that the group and non-member producers were considering extending the global supply cut for nine months or more to avoid a price-sapping output increase in the first quarter of next year, when demand is expected to be weak.

(Reporting by Vladimir Soldatkin; editing by Polina Devitt)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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