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Russia to keep oil output at level set by OPEC-non-OPEC deal
International

Russia to keep oil output at level set by OPEC-non-OPEC deal

Agency News

Moscow, May 2: Russia will keep its oil production in May at the level agreed under the Organization of the Petroleum Exporting Countries (OPEC)-non-OPEC oil output cut deal, Russian Energy Minister Alexander Novak told reporters on Thursday.

"In May 2019, Russia will maintain its oil production at the agreed level," Novak said. Russia agreed last fall to reduce its oil production by 228,000 barrels a day from the October 2018 level in the first half of this year as part of a revamped agreement between OPEC and non-OPEC oil majors to cut 1.2 million barrels a day from the market to shore up crude prices. SPUTNIK