"Of course, the company will comply if the agreement is reached, it will fully comply with the state policy, will fully fulfil everything that is required from it within the framework of such agreement," Mikhail Leontyev told RIA Novosti.
According to the official, the company fully supports Russia’s efforts on the oil market.
All Russian oil companies boosted output, with the state-owned Rosneft energy giant alone accounting for a rise of 100,000 barrels per day and producing an average of 3.865 million barrels per day in September.
In late September, the Organization of the Petroleum Exporting Countries (OPEC) member states reached a preliminary deal to set the output ceiling at 32.5-33 million barrels a day for the whole cartel. The date of the oil output freeze is expected to be presented at the cartel's upcoming meeting in November.
Russian President Vladimir Putin, while speaking at the World Energy Congress in Istanbul on Monday, said that Russia was ready to support the OPEC agreement to freeze and possibly cut oil production. He added that a freeze and a cap was perhaps the only right measure to do to preserve the stability of global energy.
The decision to limit oil production was made because global oversupply and stagnating demand caused oil prices to plunge from $115 per barrel in June 2014 to less than $30 per barrel in January 2016. Prices have partially recovered and are currently fluctuating between $45 and $50 per barrel.
