Russia and its OPEC partners in the production cut deal will take into account the slowing U.S. shale production growth at their December meeting to discuss the agreement, Russia’s Deputy Energy Minister Pavel Sorokin told news agency TASS in an interview published on Monday. However, the Russian official was quick to add that it was too early to talk about a potential deepening of the oil production cuts because the production cut mechanism is not limitless. “The OPEC+ mechanism has shown that it is efficient, but it cannot be efficient forever,” Sorokin told TASS, noting that Russia is monitoring the slowing growth in U.S. shale production. There has been a significant slowdown in U.S. production growth over the past three-four months, Sorokin said, noting that drilling efficiency has basically stalled over the past two years. Russia and its partners need to monitor the U.S. production trends at the current […]