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UPDATE 2-Lukoil calls for exit from output deal if oil holds at $70

UPDATE 2-Lukoil calls for exit from output deal if oil holds at $70

(Adds details, quotes, background) MOSCOW, Jan 12 (Reuters) - Russia should start exiting a global deal to cut oil output if crude prices remain at $70 per barrel for more than six months, Lukoil chief executive Vagit Alekperov said on Friday as he unveiled a $2-3 billion share buyback programme. Russia and Saudi Arabia are leading the wider OPEC and non-OPEC effort to limit production to prop up prices and Brent crude oil futures have risen by more than 50 percent since mid-2017, hitting $70 a barrel this week for the first time since December 2014. “If the price of $70 remains for more than half a year, we should start exiting smoothly,” Alekperov, who is also a major shareholder in the Russian