Source: Russia sees maximum oil output cut at 150,000 bdp JanЦMar - All News - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Source: Russia sees maximum oil output cut at 150,000 bdp JanЦMar

MOSCOW, Dec 7 (PRIME) -- Russia wants to reduce its oil production by no more than 150,000 barrels per day in JanuaryЦMarch 2019 and may adjust the figure later, a source close to the negotiations in Vienna told PRIME on Friday.

Russian Energy Minister Alexander Novak told the Joint OPEC-non-OPEC Ministerial Monitoring Committee (JMMC) that Russia hopes to reduce oil production by only 100,000Ц150,000 barrels per day due to seasonal reasons, the source said.

The source also said that Iran wants to use March or April as a reference month for the future reduction cut calculation.

On Wednesday, a source close to the talks said OPEC was making an effort to convince Russia to reduce oil production by at least 300,000 barrels per day and was ready for a gradual cut.

In November 2016, OPEC and non-OPEC states including Russia agreed to reduce their oil production to rebalance the market. In 2017, the deal was prolonged until the end of 2018. In June, the participants decided to raise the output by 1 million barrels of oil per day due to a favorable market environment.

On Friday, OPEC and non-OPEC states are to meet in Vienna to make a final decision on the future of the deal.


07.12.2018 09:47
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 77.7854 -0.0969 27 may
USD 71.1408 -0.4554 27 may
Stock Market Indices
1D 1W 1M 1Y
rtsi 1229.03 +0.33 14:36 27 may
micex 2766.04 +0.44 14:36 27 may
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 195.96 -0.46 14:19 27 may
lkoh 5442.50 -0.05 14:19 27 may
rosn 375.65 +0.33 14:19 27 may
sber 197.77 +1.94 14:19 27 may
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 77.7950 -0.3775 14:59 27 may
USDTD 70.6200 -1.1325 17:44 27 may