Anton Siluanova: Mariya Gordeyeva / Reuters
First Deputy Prime Minister and Minister of Finance Anton Siluanov expressed a number of concerns in connection with the possible extension of the deal with members of the Organization of countries-exporters of oil (OPEC) to reduce oil production. According to officials, the agreement opens up great opportunities for us oil producers, who gain new markets. According to the Minister leads the Agency Reuters.
“Of course, we need stability and predictability in oil prices, that’s right. But we see that all these transactions with the OPEC lead to the fact that our American partners to increase production of shale oil and capture additional markets,” recognizes the risks Siluanov.
The Minister noted that within OPEC+ it is necessary to carefully assess the risks and opportunities U.S. companies continue to increase oil production. Vice Prime Minister stressed that such calculations already holds the Russian energy Ministry, on the basis of estimates which the government will formulate a policy towards the further extension of the transaction.
The last time the agreement between the OPEC+ (includes traditional members of OPEC and outside the cartel countries, such as Russia) was signed in December 2018. Then the country agreed to freeze production levels to stem a drop in oil prices, the production level was recorded at 11.4 million barrels a day. Russia pledged to cut production by 228 thousand barrels per day.
Video, photo All from Russia.