Russia's Energy Minister on Spare Capacity

The transcript discusses oil production cuts, partner support, and production levels in August and October. It reviews the June 2018 agreement and its outcomes, including the recommendation for 100% conformity. The potential for increased production by the end of the year is explored, with a focus on short and long-term prospects. Government policies and proposals are considered for their impact on production, particularly in West Siberian fields. The potential for output growth among Russian companies is also highlighted.

What was the group's decision in June 2018 regarding oil output?

• To stop oil production entirely

• To increase output by 1,000,000 barrels

• To maintain the current output levels

• To decrease output by 1,000,000 barrels

What is the short-term potential for extra oil production by the end of the year?

• A couple of hundred thousand barrels

• A million barrels

• A few thousand barrels

• No additional production

What factors influence the long-term prospects for oil production?

• The weather conditions

• The availability of new technology

• The overall policy of the country and stimuli for brownfields

• The global oil prices

Which companies have the potential to increase their oil output?

• Only foreign companies

• All major Russian companies

• Only small companies

• Only new companies

What is the role of Russian companies in the context of voluntary cuts?

• They are exiting the market

• They have significant output and growth potential

• They have no role

• They are reducing their output