Lukoil, the second-largest oil producer in Russia, plans to slash its crude oil production by 18 percent, or by 290,000 bpd, as part of the new OPEC+ production cut deal, president and chief executive Vagit Alekperov told Russia’s news agency Interfax on Monday. Lukoil plans to reduce its oil production by 18 percent, or by more than 40,000 tons per day – which is equal to more than 290,000 barrels per day – Alekperov told Interfax, adding that Lukoil and all other oil firms in Russia would fulfill the quotas as per Russia’s energy ministry orders. Lukoil expects oil prices to rise to $30 a barrel after the new agreement takes force in May, according to Lukoil. Early on Monday, Brent Crude was trading at around $27 barrel, while the U.S. benchmark price WTI Crude was tumbling by nearly 30 percent at $13 a barrel, due to Tuesday’s expiry […]