Russia says it’s harder for us to cut oil output in winter: Ifax
Russia will find it harder to cut oil output in winter than other producers because of the cold conditions at Russian oil fields, Interfax news agency quoted Energy Minister Alexander Novak as saying on Thursday.
Oil producers’ organization OPEC has said it is ready to cut production, but that is conditional on Russian contributing to the reduction in output.
“We’ve said it previously … for us it is much more difficult to cut than for other countries, stemming from our climatic conditions. That is a specific characteristic of our oil production sector,” Interfax quoted Novak as saying.
Source: Reuters (Reporting by Vladimir Soldatkin; Writing by Christian Lowe)