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OPEC+: Wires-Opec+ Plans No Action After Russian Oil Cuts: 2 Delegates

OIL

Wires reporting that according to two unnamed OPEC+ delegates, the bloc 'plans no action' following the seemingly unilateral cut to production announced by Russia in response to western sanctions.

  • There appears to be some uncertainty as to how much notice other OPEC+ members were given by Russia. Wires report Kremlin spox Dmitri Peskov stating that Russia discussed its decision to cut oil output with some OPEC+ members.
  • However, comments from Russian Deputy PM Alexander Novak also hitting wires claim that Russia had not held consultations on the 500k/bpd production cut.

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