[size=36]Before the OPEC + meeting ... Russian Energy: We are ready to reduce production by 1.6 million barrels per day[/size]
A spokesman for the ministry told the Russian "TASS", that Russia is ready to reduce production by 1.6 million barrels per day from the level of production in the first quarter of last year.
The spokesman stressed that Moscow would agree to this reduction in the event that other countries reduce their production proportionately.
And OPEC + and other producers today, at 02:00 GMT, will hold an emergency meeting via a television bridge, to discuss the conclusion of a new agreement to cut production aimed at supporting the faltering oil markets.
According to Moscow, talk is underway about implementing a total reduction of 10 million barrels per day, in light of the decline in global demand for crude due to the Corona pandemic.
Russia and Saudi Arabia are demanding that the United States, which has recently become the world's largest oil producer, join the agreement.
On the trading front, Brent futures contracts were traded today at $ 33.45 a barrel, an increase of 1.86% over the settlement price of the previous session, while US crude contracts rose by 3.31% to $ 25.92 a barrel. Ended / 29 / p