Russia’s Top Oil Executive Says OPEC+ Was Astute to Boost Output

Steps taken by the OPEC+ group to boost oil supplies have proved astute, given developments in the Middle East conflict, according to Rosneft PJSC Chief Executive Officer Igor Sechin.

“The decision by OPEC+ leaders to raise production at accelerated rates appears highly far-sighted today, and from a market perspective, justified, considering consumer interests amid uncertainty about the scale of the conflict between Iran and Israel,” Sechin said at the St. Petersburg International Economic Forum on Saturday.