Sechin Denies Deal With Opec for Output Cut

摘要

Russia will not work in league with Opec and reduce the bar- rels it is pumping out of the ground to shore up oil prices, the country’s de facto energy tsar Igor Sechin stressed this week, adding that he didn’t rule out that Russian crude oil output could naturally subside if prices stay low. Speaking at the International Petroleum Week conference in London, Sechin, the president of Rosneft, Russia’s largest producer, criticized the Middle East members of the producer group for acting in their own interests and destabilizing mar - kets with their decision last November to stay the course. Still, Sechin expressed confidence that a balance on the physical oil market could be restored within a year while warning that investment cuts could lead to a deficit in supply in the fourth quarter of 2015.