May 24, 2018 / 9:05 AM / a month ago

Russia's Lukoil says it's time to raise global oil production

ST PETERSBURG (Reuters) - Vagit Alekperov, the head of Russia’s No.2 oil producer Lukoil (LKOH.MM), said on Thursday the time has come to increase global oil output as prices have risen to $80 per barrel, a level not seen since late 2014.

The current global deal on curbing oil output should remain in place in 2019 but it has to be “flexible”, he said.

Reporting by Olesya Astakhova; writing by Vladimir Soldatkin; editing by Jason Neely

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