Exclusive: Russia's Rosneft boss Sechin says no to oil output cut
Igor Sechin, Russia's most influential oil executive and the head of Kremlin energy champion Rosneft (ROSN.MM), said his company will not curb oil production as part of a possible agreement with OPEC.
"Why should we do it?" Sechin told Reuters in Istanbul on Monday evening, when asked if Rosneft, which accounts for 40 percent of Russia's total crude oil output, might cap output.
He said he doubted that some OPEC countries, such as Iran, Saudi Arabia and Venezuela would cut their output either, saying that an increase in oil prices above $50 per barrel would make shale oil projects... read more
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