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Russia’s Gazprom Neft sees no need for extra OPEC+ oil output cuts
The head of Russian oil major Gazprom Neft said on Saturday he sees no need for additional oil supply cuts by OPEC+ oil producers, days before the group is due to meet on output policy. OPEC+ have agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for the first quarter led by Saudi Arabia rolling over a 1 million bpd voluntary reduction. OPEC+ producers are scheduled to hold a meeting of a key ministerial panel on Feb 1 and group sources have said that it will likely decide its oil production levels for April and beyond in the coming weeks. “OPEC+ has already decided on cuts, cuts ... (full story)