Russia: Countries outside "OPEC +" will cut production by 5 million barrels
08:59 - 11/04/2020
Information / follow-up ..
Russian Energy Minister Alexander Novak predicted today, Friday, that oil exporting countries outside OPEC and its OPEC + partners will reduce their oil production by 5 million barrels per day.
In an interview with "Russia 24" television channel, Novak considered that the total production cuts by the "OPEC +" countries and some of their partners within the "Twenty" group, may constitute about 15 million barrels per day.
Novak also stressed the readiness of Russian companies to cut production within the framework of the "OPEC +" deal, adding that his ministry is in constant contact with Russian companies in this regard.
Novak also expressed his confidence that Russian companies can take technical and technological measures that would enable them to reach the numbers that Russia has taken upon itself to adhere to.
He said that the planned production reduction is short-term, explaining that the matter is related to "very large numbers that must be reached in order to restore the market to its balance," adding: "There is no doubt that the previous production volumes will be restored." End / 25