Lukoil: companies to cut production in line with share of Russian output

Russian oil company Lukoil will cut its output in proportion with its share of Russian crude production, the firm's vice president, Ravil Maganov, said.

His remarks were made after a meeting between Russian oil companies and the energy ministry on how they will implement an agreement between OPEC and other oil exporting nations on cutting exports, Reuters reports.

The meeting was attended by the heads of Lukoil, Gazprom Neft, Tatneft, Bashneft, Rosneft, Transneft and Surgutneftegaz.