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World oil prices

Lukoil CEO positive on OPEC meeting outcomes

The OPEC+ ministers meeting, where practical decisions can be made, will take place tomorrow in Vienna

VIENNA, December 6. /TASS/. Outcomes of the OPEC ministerial meeting are positive and can stabilize the market, Chief Executive Office of the Russian oil major Lukoil Vagit Alekperov told TASS on Thursday.

"Positively! Decisions that could stabilize the market," Alekperov said.

Lukoil expects that decisions to reduce oil production will influence on its price and it will grow eventually, the top manager added.

OPEC countries reached a preliminary agreement after talks in Vienna to reduce oil production but specific volumes to be cut are still to be agreed. According to TASS sources, oil production will be reduced from the October 2018 level.

The OPEC+ ministers meeting, where specific decisions can be made, will take place tomorrow in Vienna.

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