OREANDA-NEWS.There is no single position regarding the appropriateness of Russia's participation in an agreement to reduce oil production between OPEC member countries and other major oil producers (OPEC+) even among Russian oil companies. On this, speaking with a report at a meeting of shareholders of LUKOIL, said the head of the company Vagit Alekperov, the journalist of the Russian media reports.

Now the fate of the OPEC+ transaction, in his opinion, remains unclear. “Even among Russian companies there is no single position on the expediency of participation in the agreement”, said Alekperov, noting that, thus, risks of price volatility in the oil market remain. Last week, the fall in oil prices below $ 40 and to $ 30 per barrel, if OPEC+ doesn't agree on a new production restriction, Russian Energy Minister Alexander Novak and First Deputy Prime Minister, Finance Minister Anton Siluanov allowed.

At the moment, noted at the meeting of shareholders Alekperov, the world supply of oil, according to the International Energy Agency, already exceeds demand. In the first quarter of 2019, this figure was more than 0.7 million barrels per day, noted the head of LUKOIL. From December 2016, when the first agreement of OPEC+ was adopted, the United States”, Alekperov explained, “they increased oil production by 35%, almost to 12 million barrels per day, coming out on top in the world". In 2020, the US Ministry of Energy, he recalled, predicts a further increase of about 1.5 million barrels per day.

At the St. Petersburg International Economic Forum, the topic of privileges was touched on by First Deputy Prime Minister, Finance Minister Anton Siluanov, citing LUKOIL as an example. “Now I just read - our esteemed company LUKOIL has invested $ 800 million in the shelf in the Congo. And we give them benefits”, he said. The company plans to enter the Eni project in the Congo, the share could be 25%.