The average daily cut in oil production by Russia under the OPEC-non-OPEC deal in May amounted to 317,000 barrels per day compared to the October 2018 level, taken as a guideline in the oil output cut agreement, while in June the country intends to fully comply with the agreed production levels, Russian Energy Minister Alexander Novak told journalists on Monday
MOSCOW (Pakistan Point News / Sputnik - 03rd June, 2019) The average daily cut in oil production by Russia under the OPEC-non-OPEC deal in May amounted to 317,000 barrels per day compared to the October 2018 level, taken as a guideline in the oil output cut agreement, while in June the country intends to fully comply with the agreed production levels, Russian Energy Minister Alexander Novak told journalists on Monday.Novak said Russia significantly exceeded its obligations in May under the OPEC-non-OPEC deal, according to which the country had pledged to cut production by 228,000 barrels per day from the October level.
"Within OPEC-non-OPEC, Russia in May is at the level of reducing oil production by 317,000 barrels per day relative to October 2018. In June 2019, Russia intends to fully comply with the agreed production levels within the OPEC-non-OPEC cooperation," he said.
