'Too Early to Discuss' Course of Action About Cuts in 2H, Says Russia's Energy Minister

The transcript discusses the current state of oil production cuts, market uncertainties, and the compliance of Russian oil companies with production targets. It highlights the importance of waiting until mid-year for clearer market conditions before making decisions on extending production cuts. The discussion also covers the acceptability of current oil prices to both consumers and producers, emphasizing a balanced market state. The transcript concludes with a focus on the price range of $60 to $70 per barrel, which is deemed suitable for the global economy and investment in the oil and gas sector.

Why is it considered too early to discuss production cuts for the second half of 2019?

• Due to the high demand for oil.

• Because production targets have already been met.

• Due to the lack of sufficient time and market uncertainties.

• Because the market is already stable.

What is the stance of Russian oil companies regarding production cuts?

• They are not complying with the targets.

• They are fully on schedule with the targets.

• They are increasing production instead.

• They are waiting for further instructions.

What factors are considered before making final decisions on future cooperation?

• The benefits of cooperation and market stability.

• Only the climatic conditions.

• The opinions of international organizations.

• The current oil prices.

What is the current acceptable price range for oil according to the transcript?

• $80 to $90

• $70 to $80

• $50 to $60

• $60 to $70

How does the current level of volatility in oil prices affect the market?

• It suggests a need for immediate cuts.

• It shows a fairly balanced state.

• It indicates a highly unstable market.

• It reflects a lack of consumer interest.