According to Sorokin, this would be technically difficult.
Last week, the OPEC+ group, which includes OPEC as well as Russia and other non-cartel producers, failed to agree on additional production increase and further extension of the cut deal. As a result, Saudi Arabia said it would increase the output. The oil prices reacted with a downward surge earlier this week, rattling the financial markets.
Russia expects oil prices to eventually settle at roughly $45-55 per barrel, Sorokin reportedly said.
