Skip to content
Subscriber Only
Markets

Rosneft Plans to Increase Output as Russia Digs in for Price War

  • Company plans growth once current OPEC+ deal ends on April 1
  • Could lift oil production by 300,000 barrels a day in weeks
A worker collects a sample of crude oil at a multiple well platform, operated by Rosneft PJSC, in the Samotlor oilfield near Nizhnevartovsk, Russia.

A worker collects a sample of crude oil at a multiple well platform, operated by Rosneft PJSC, in the Samotlor oilfield near Nizhnevartovsk, Russia.

Photographer: Andrey Rudakov/Bloomberg
By

Russia’s state oil company Rosneft PJSC is planning to lift oil production as soon as the current OPEC+ deal ends, according to a person close to the company.

The comments, the first Russian response to the oil price war launched by Saudi Arabia over the weekend, suggest that Rosneft could start boosting output as soon as April 1.