Russia cut oil production by an average of 211,000 barrels per day within the OPEC+ agreement to the level of October 2018 indicators, which means it has fulfilled the conditions by 93% percent, while at the end of the month the reduction was more than the agreed volume of 298,000 barrels, Russian Energy Minister Alexander Novak said Saturday
SOCHI (Pakistan Point News / Sputnik - 02nd November, 2019) Russia cut oil production by an average of 211,000 barrels per day within the OPEC+ agreement to the level of October 2018 indicators, which means it has fulfilled the conditions by 93% percent, while at the end of the month the reduction was more than the agreed volume of 298,000 barrels, Russian Energy Minister Alexander Novak said Saturday.
"Within OPEC+, Russia in October was at the level of a decrease in oil production of 211,000 barrels per day compared to that of October 2018. At the same time, at the end of October, the reduction was at the level of 298,000 barrels," Novak said.
The goals of OPEC+ have been outlined in its July charter, including strengthening oil market stability and the global economy among others.
