Marcel Salikhov, president of the Institute for Energy and Finance, commented to Reuters on the Rosneft's proposals to monitor exports within the framework of OPEC+.
June 21 (Reuters) - The largest Russian oil company Rosneft offered to monitor the volume of oil exports of the OPEC+ countries.
Marcel Salikhov believes that a system based on export quotas would allow for more flexible production management, including through the creation of strategic reserves: for Russia with a large number of wells with low debit, such a mechanism could be useful. In addition, the launch of such a system would lead to the fact that the volume of necessary production cuts under the OPEC+ commitment for Russia would be less, he believes.
"This would allow companies to earn more in the domestic market, and the state to receive more oil taxes. However, the transition to such a system is extremely unlikely," Salikhov notes.
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