Rosneft Set to Lower Oil Output

Rosneft, Russia's top oil producer, is set to lower oil output, Russian Natural Resourses Minister Sergei Donskoi said on Tuesday, giving no time frame for the decrease. He also said he hoped that state-controlled Rosneft will resume drilling for oil in the Arctic. The company suspended drilling in 2014 after its partner ExxonMobil withdrew from the project because of Western sanctions imposed on Moscow over its role in the conflict in eastern Ukraine.

(Reuters Reporting by Olesya Astakhova; Writing By Denis Pinchuk; Editing by Dmitry Solovyov)