Lukoil CEO on Production Cuts, Crude Price, Sanctions

The transcript discusses the challenges of reducing production during harsh winter conditions, particularly in Western Siberia, where temperatures can drop to minus 30-40 Celsius. It outlines the timeline for implementing production cuts, which typically takes three to four months. The speaker hopes these cuts won't be necessary due to current oil prices. Predictions for oil trading prices in the New Year suggest stability in the 60s. The transcript also addresses the uncertainty of future sanctions and the difficulty of switching from dollar-based trading. The strategy is to react to sanctions as they occur, acknowledging the challenges of forecasting and preparing for potential risks.

How does the current price of oil affect production decisions?

What is the company's strategy regarding potential sanctions?