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Russia Reduces its Oil Output by 300,000 barrels per day

News No :4

News Date :19/05/2017

News Time :07:50 AM

Moscow, May 19 (QNA) – Russia has reduced its oil output by 300,000 barrels per day, as stipulated in the Vienna deal signed between OPEC and non­OPEC countries, Russia’s Energy Minister Alexander Novak has said.

“On average, Russia cut its oil production by 260,000 barrels per day in April, as in early April, it was reduced by 200,000 barrels per day and then by 300,000 barrels per day as of late April,” RIA Novosti
quoted the minister as saying.

In December 2016, OPEC and non­OPEC producers reached their first deal since 2001 to curtail oil output jointly. (QNA)

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