Lukoil Delivers Production Cut

摘要

Russia’s top independent oil producer Lukoil said it reduced its crude oil production by 19% in May, compared with the first quarter of this year, as required under the Opec-plus agreement. The reduction amounted to 310,000 b/d and was implemented at less profitable wells in West Siberia and the Komi Republic of northern Russia. Lukoil said it would be able to bring this production back on line quickly later without significant additional costs, when the Opec-plus restrictions are lifted.