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WorldPosted at: Dec 29 2020 5:43PM


Russian Fin Min sees no reason for country’s oil sector to worry about OPEC+ deal

Moscow, Dec 29 (Sputnik) The Russian oil sector should not be worried about the OPEC+ deal on the reduction of oil output, as many companies have already started to increase production and export volumes, Russian Finance Minister Anton Siluanov said on Tuesday.
"In general, our oil workers are very worried about the reductions that were achieved by Russia with the OPEC + countries. Now we are gradually reaching an increase in production and export volumes. And naturally, we believe that oil workers here [in Russia] will not be affected, and they will increase production," Siluanov told reporters.
The minister said that the free cash flow of oil companies, taking into account the effects of this year, will allow them to maintain investments, thus letting them keep a steady level of oil production, and to effectively manage assets and oil fields in their possession.
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