November 27, 2014 / 4:20 PM / 5 years ago

Russia's Rosneft says OPEC decision won't affect its work

MOSCOW (Reuters) - Russia’s top oil producer Rosneft (ROSN.MM) said on Thursday that a decision by OPEC to leave its output unchanged despite flagging oil prices would not affect the work of the company.

“The situation on the market does not need sudden measures, nothing extraordinary is happening,” Rosneft said in a statement. “Rosneft has a sufficient safety margin, given the fact that (our) net production cost is the lowest in the world — just above 4 dollars/barrel.”

Earlier on Thursday, Gulf oil producers led by Saudi Arabia on Thursday won the case for keeping OPEC output unchanged, overriding calls from poorer members of the exporters’ group for action to halt a slide in crude prices.

Reporting by Katya Golubkova; Writing by Alexander Winning, editing by David Evans

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