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Pavel Sorokon, a Russian Deputy Energy Minister, hinted that Russia could lift its oil production back to pre-OPEC cuts deal levels, in an interview with Reuters.

Key Quotes:

“Speaking about the potential in the short run, growth potential (in Russia) is at least 300,000 bpd, which was cut voluntarily by the companies as part of the OPEC agreement.”  

“Within a few months, we surely will be able to restore that level if such a decision is taken.”

“There is not enough infrastructure, there are certain bottlenecks with the staff availability, equipment while lifting costs have started to creep up.”