Russia’s largest oil producer Rosneft has the capacity to increase its crude oil production by the end of 2018 and will have additional capacity available in 2019, chief executive Igor Sechin said on Thursday. Speaking on the sidelines of an economic forum in Italy, Sechin told S&P Global Platts “of course”, when asked if the Russian oil major could produce more oil in the last months of 2018. As the biggest Russian oil producer, Rosneft was responsible for a large part of Russia’s production cut of 300,000 bpd under the deal with OPEC to withhold supply to boost prices. OPEC and the Russia-led non-OPEC parties to the production cut deal—that has been in place since January 2017—agreed in June to reverse some of the cuts and relax compliance to offset falling supply from Iran and Venezuela. Russia has already reversed the entire 300,000 bpd cut and additionally boosted production […]