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Russia's Sechin says wants smooth future exit from global oil deal

Reuters  |  SOCHI, Russia 

By Denis PinchukSOCHI, Russia (Reuters) - Igor Sechin, the head of Russia's largest oil producer Rosneft, said on Wednesday once the global deal to cut oil production expires, it should be ended in a way to avoid causing price volatility.He said he had asked Russian Energy Minister Alexander Novak to negotiate a smooth exit mechanism with OPEC and the other leading oil producers party to the output cut agreement.Saudi Arabia and Russia, the world's top two oil producers, have agreed on the need to extend output cuts for a further nine months, until March 2018, to rein in a global glut."We ...

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First Published: Wed, May 17 2017. 20:08 IST
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