Russian oil companies prefer to keep their production restriction quotas until March, when the current OPEC+ cuts expire, and discuss an extension then, signaling that Russian producers don’t want deeper cuts or any major changes to the pact at next week’s meeting. “We all proposed that we stay in the deal with the same quotas, and at the end of the first quarter we will meet and discuss,” Ravil Maganov, Vice President at the second-biggest Russian oil producer, Lukoil, said after a meeting with Energy Minister Alexander Novak on Thursday to discuss the Russian firms’ view on the OPEC+ deal. Last week, Lukoil’s chief executive Vagit Alekperov said that he expects the OPEC+ group to decide next March whether to roll over the production cuts through the rest of 2020. “It is going to be decided in March,” Alekperov said last week, as carried by Reuters, referring to the […]