Russian oil producer Lukoil will adjust its oil output plan for 2017 to conform with a global deal on cutting production, TASS news agency quoted Lukoil Chief Executive Vagit Alekperov as saying on Wednesday.

“How can we maintain (current production plans) if we are taking part in the curbing of output?” Alekperov was quoted as saying. “We will abide by all the decisions that the energy ministry passed on to the oil companies.”

Alekperov did not give any forecasts for output volumes, TASS reported.

Source: www.reuters.com