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Natural Resource Ministry: Russia’s oil production cut should not affect exploration pace

December 06, 2016, 15:14 UTC+3

The OPEC expects non-OPEC countries will slash production by 600,000 bbl per day from 2017, including 300,000 bbl cut by Russia

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MOSCOW, December 6. /TASS/. Participation of Russia in oil production limiting agreements between OPEC and non-OPEC countries should not affect exploration scopes of Russian oil companies, Minister of Natural Resources Sergey Donskoy said on Tuesday.

"[The expected agreement with OPEC - TASS] should not influence because exploration performed by companies is of long-term perspective. [Work] underway now will exert influence in later periods, not in the next year," the Minister said.

Vienna will see OPEC and non-OPEC countries talks on December 10. The key decision is joining the OPEC decision on oil production cut. The OPEC expects non-OPEC countries will slash production by 600,000 bbl per day from 2017, including 300,000 bbl cut by Russia.

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