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

Russia's Gazprom Neft: output cuts should be eased this summer
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ST PETERSBURG (Reuters) – Alexander Dyukov, the head of Russian oil major Gazprom Neft <SIBN.MM>, said on Friday he supported the possible easing of restrictions on oil production this summer.

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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