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| Russia will begin to tighten restrictions on oil supplies within OPEC+ |
| 2023-12-06 |
| Direct Translation via Google Translate. Edited. [Regnum] Russia will begin to tighten restrictions on oil and fuel supplies within OPEC+ starting in December, Russian Deputy Prime Minister Alexander Novak said on December 5 . According to him, Russia fully confirms its full commitment to the agreements on a voluntary additional reduction in the export of oil and petroleum products by 500,000 barrels per day (300,000 b/d of oil and 200,000 b/d of petroleum products), starting in January 2024. “I can note that already in December we will begin to move towards meeting this indicator, from the current target of 300 thousand b/d of export reduction,” TASS quotes him. The Deputy Prime Minister added that Russia will also continue to work with independent sources to correctly assess the state of the oil market after voluntary supply cuts. As Regnum reported , on November 30, Novak said that Russia would deepen the voluntary reduction in oil supplies to a total volume of 500 thousand barrels per day and extend it until the end of the first quarter of 2024. On the same day, OPEC+ countries agreed to reduce production by 1 million barrels per day. As Reuters reported, OPEC+ has reached a preliminary agreement on an additional reduction in oil production. |
| Posted by:badanov |