Oil market on brink of big repartition - Rosneft CEO

MOSCOW, November 27. /TASS/. The oil market is on the verge of a big repartition, CEO of Russia’s oil major Rosneft, Igor Sechin, said in an interview with Austria’s Die Presse on Thursday. “The crisis situation creates additional possibilities. Naturally, some companies will not be able to operate in conditions of low oil prices. The crisis will trigger a redistribution of the market. Due to non-traditional production in the United States, we are on the brink of a big repartition,” Sechin said. On Thursday, the Organization of the Petroleum Exporting Countries /OPEC/ decided to keep oil production quotas unchanged at the current level of 30 million barrels a day. Oil prices have plunged by more than 30 percent since be beginning of the year. Read more