Rosneft’s leader’s statement was the first demonstration of anxiety from Moscow for months about OPEC+ strategy to accelerate production growth.
State company’s net income Rosneft fell over 68% up to $ 3 billion in the first half of 2025. Its CEO said Igor Sechin in the Reuters commentary on Saturday, August 30th.
“The first half of the year is characterized by a reduction in oil prices, mainly due to excessive oil production. The main reason is the active increase in the manufacture of OPEC countries, including Saudi Arabia, the UAE, Iraq, Kuwait,” he said.
Sechin noted that, according to Rosneft and leading energy agencies, the excess oil in the world market in the fourth quarter will reach 2.6 million barrels per day, and by 2026 it will drop to 2.2 million barrels per day.
He also reiterated his criticism of the hard financial policy of the central bank of the Russian Federation, which, in his opinion, supports a strong ruble.
At the same time, the Reuters indicate that the Rosneft head of the head of Moscow for months about OPEC+ approach to accelerating production growth.
Earlier, Deputy Prime Minister of the Russian Federation Alexander Novak said Russia would survive “any oil prices”, as its economic dependence on Hydrocarbons is said to have been reduced.
Fuel in the Russian Federation will be a deficiency. Big -scale stroke for refineries
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.