May 25, 2018 / 11:03 AM / 5 months ago

Russia's Gazprom Neft: output cuts should be eased this summer

ST PETERSBURG (Reuters) - Alexander Dyukov, the head of Russian oil major Gazprom Neft, said on Friday he supported the possible easing of restrictions on oil production this summer.

FILE PHOTO: Alexander Dyukov, head of Russian oil producer Gazprom Neft, attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia, June 1, 2017. REUTERS/Sergei Karpukhin

He said the magnitude of the easing - “700,000-800,000 barrels per day, or 1 million barrels per day” - should be discussed.

Dyukov also said that oil prices at $50-$60 per barrel would be “fair” and that the company’s own hydrocarbon production forecast of 100 million tonnes in 2020 would likely be exceeded.

Reporting by Olesya Astakhova; writing by Vladimir Soldatkin; editing by Maria Kiselyova

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