June 14, 2019 / 10:38 AM / 5 days ago

Russia's Gazprom Neft urges OPEC to raise oil output quotas

FILE PHOTO: Chairman of the Management Board, Chief Executive Officer of Gazprom Neft Alexander Dyukov attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 6, 2019. REUTERS/Maxim Shemetov

ST PETERSBURG (Reuters) - OPEC and non-OPEC producers should raise oil production starting from the second half of the year in order to keep the market balance and acceptable oil prices, Alexander Dyukov, the head of Russia’s Gazprom Neft, said on Friday.

He told reporters that the oil price range of $55-$65 per barrel is “acceptable” for the Russian producers, while the company is ready to quickly restore its oil output, curbed by a global agreement.

Reporting by Vladimir Soldatkin; Editing by Andrey Kuzmin

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