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article imageRussia confirms ready to cut oil output by 300,000 barrels per day

By AFP     Nov 30, 2016 in Business

Russian Energy Minister Alexander Novak, responding to a decision by OPEC Wednesday to reduce crude output to lift prices, said Russia was ready to cut its own oil production by 300,000 barrels a day next year.

"Russia will progressively reduce its oil production by 300,000 barrels a day in the first half of 2017," Novak was quoted by the state agency Ria-Novosti as saying, adding the move was conditional on the OPEC decision being "upheld."

More about Opec, Energy, Oil, Output, Russia
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