Russia at the exit from the transaction OPEC+ will be able to increase oil production, said Novak

© RIA Novosti / Alexander Wolfparade in fotomancer of energy of Russia Alexander Novak. Archival photoRussia at the exit from the transaction OPEC+ will be able to increase oil production, said Novak© RIA Novosti / Alexander Wolfparade the image Bank

Russia, in contrast to the other parties to the transaction OPEC+, at the exit can, if necessary, to gradually increase oil production, said in an interview with RIA Novosti Russian energy Minister Alexander Novak.

«If we have a situation where we will need gradually to withdraw from the agreement terms, when the market will already be balanced, and will not dramatically increase production, and on the basis of a certain schedule… Not all countries can do this, but Russia,» he said.

OPEC and several non-organisation countries (OPEC+) agreed in late 2016 in Vienna on the reduction of its oil production to total 1.8 million barrels per day from the level of October 2016, of which 300 thousand are in Russia. In November 2017, the parties to the agreement have extended it to 2018.Russia at the exit from the transaction OPEC+ will be able to increase oil production, said Novak© RIA Novosti, Integratiebeleid in photomontaged forces in the world oil market

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