Russia can raise oil output if price above $50

Russia can sustain and even raise oil output if prices stay above $50 per barrel, Russia’s Energy Minister said, adding he believed it would make no sense to merge oil majors Rosneft) and Surgut.

Sergei Shmatko also said Russia and China were close to finalizing work on a $25 billion loan to Rosneft and oil pipeline firm Transneft and added Gazprom was ready to raise supplies to Poland to compensate for lower supplies from gas trader RosUkrEnergo.
Reuters