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Russia, OPEC+ Agreed On Further Cuts To Be Announced Next Week

OIL

Russia and OPEC+ agreed on further cuts in oil exports and will announce its steps next week, Deputy Prime Minister Alexander Novak told President Vladimir Putin.

  • Putin asked Novak, if he had agreed with OPEC+ partners to reduce the supply of oil. Novak replied: "We have agreed, but we will announce the main parameters next week, publicly."
  • Novak announced yesterday that Russia is discussing October exports with OPEC+ partners. Russia committed to cut oil exports by 300kbpd against June levels in September.

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