LUKoil Ready to Carry Out Russia's Possible Decision to Limit Oil Output

Russian oil major LUKoil is ready to limit its oil production by closing old wells in West Siberia if the Russian government instructs it to, LUKoil Vice-President Leonid Fedun told journalists on Tuesday.

BRUSSELS (Sputnik) – Earlier Tuesday, Fedun said in Brussels that he hoped OPEC would decide on November 30 on a certain cut in oil output. Speaking to reporters, he said later that Russia could join the decision.

"We are ready for reduction if there is an instruction from the government," Fedun said.