mo4ch:>Russia signals OPEC & allies could raise oil output after June | Mo4ch News

A senior Russian official has suggested Russia will press for an end of the OPEC+ production cuts after the end of June when the original agreement expires.Kiril Dmitriev, head of the country’s direct investment fund, has been a staunch supporter of the OPEC+ cooperation since the beginning, which makes his latest remarks all the more significant.“It is quite possible that given the improving market situation and falling stocks, (OPEC and its allies) could decide in June this year to abandon supply cuts and subsequently increase output,” Reuters quoted Dmitriev as saying.Also on rt.comOil prices spike to 5-month high as military conflict in Libya escalates“This decision will not mean the end of the deal but a confirmation that participants continue their coordinating efforts when it is important not only to cut but to increase output depending on market conditions,” the official added in keeping with his original stance on the partnership between the cartel and Russia.Meanwhile, Saudi…