Russia’s Rosneft Says Oil Production Cuts May Not Be Extended

By Tsvetana Paraskova Russia’s oil giant Rosneft sees a lack of will among the main signatories to the OPEC/non-OPEC deal and U.S. shale production as the main risks to a possible extension of the global supply cut deal, a Rosneft spokesman told Reuters on Monday. “We think that in the long term global oil demand dynamics and reduced investment during the period of ultra low prices will balance the market, but that the risk of a price war resuming remains,” the spokesman said. OPEC and 11 non-OPEC producers agreed in November to curtail their collective…

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