OPEC+ Will Respond to Any Supply Disruptions, Russia's Energy Minister Says

The transcript discusses Russia's perspective on extending oil production cuts, considering the volatile nature of the market and US shale production. It highlights the need for careful assessment of market conditions and the importance of internal consultations among Russian companies and government ministries. The decision to propose a nine-month extension aims to prevent market oversupply during low demand periods.

What is a key reason for Russia's cautious approach to oil production cuts?

• Stable US shale production

• Uncertainty in market conditions

• Guaranteed supply growth

• High demand for oil

What was a concern for Russia regarding the future of shale production?

• Its rapid decline

• Its unpredictable growth

• Its stable growth

• Its impact on global politics

What was a significant factor in reaching a unanimous decision among Russian oil companies?

• Consultations with companies and government

• Increased oil prices

• Pressure from international markets

• Direct orders from President Putin

Why did Russia propose a nine-month extension instead of six months?

• To align with US policies

• To avoid market oversupply during low demand

• To increase oil prices

• To reduce production costs

What was the outcome of the internal discussions within the Russian government?

• A reduction in oil exports

• A six-month extension agreement

• A decision to increase oil production

• A proposal for a nine-month extension