Deputy PM: Russia to decide on volume of oil production in Nov

MOSCOW, Oct 4 (PRIME) -- Russia will analyze the market in November in order to decide whether to deepen the reduction or increase oil production, Russian Deputy Prime Minister Alexander Novak said on Wednesday.

“Russia will continue until the end of December 2023 the additional voluntary reduction of supplies to world markets by 300,000 barrels per day, which took effect in September and October 2023. Next month, the market will be analyzed in order to decide whether to deepen the reduction or increase oil production,” the official said.

He also said that this is “in addition to the voluntary reduction previously announced by Russia in April 2023, which will last until the end of December 2024.”

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