OAO Lukoil, Russia's biggest independent oil producer, reported that second-quarter profit jumped by 64 percent as crude prices rose and company refined higher quantities of oil.

Artyom Konchin, oil and gas analyst at UniCredit Aton in Moscow, said:

Lukoil's sudden tendency to underperform will definitely weigh on the stock, especially considering that the second quarter pricing environment was the best you could expect.

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