The overall level of OPEC+ compliance with production cuts was 122% in December, Russian Deputy Prime Minister Alexander Novak said
MOSCOW (Pakistan Point News / Sputnik - 02nd February, 2022) The overall level of OPEC+ compliance with production cuts was 122% in December, Russian Deputy Prime Minister Alexander Novak said.
"According to the results of December, it was noted the overall level of compliance with the agreement amounted to 122%," he said in an interview with the Rossiya 24 broadcaster.
Russia is committed to the OPEC+ deal and is fulfilling it close to 100% every month, December is no exception, Novak said.
In March, thanks to the decision of OPEC+ on the next increase in oil production, Russia will restore its production by 90% of the volume reduced in May 2020, Novak said.
"Let me remind you that Russia reduced production by 2 million barrels per day in May 2020," the deputy prime minister said.
