Lukoil supports the decision taken by OPEC+ to restore oil production and believes the deal should be maintained in the midterm, President of the Russian oil major Vagit Alekperov told reporters on Thursday, Trend reports with reference to TASS.
"We support it [the OPEC+ decision]. This decision made, that is, to keep the deal - it should be maintained in the midterm and gradually go forward, by market monitoring, by inventories monitoring," Alekperov said.
OPEC+ member-states agreed to renew their oil production limiting agreement until the end of 2022 at the meeting on July 18.
The oil prices will remain in the range of $68-75 per barrel, and the current price drop is a local one, Alekperov added.