Energy minister says Russia committed to balanced oil market - News Archive - 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

Energy minister says Russia committed to balanced oil market

MOSCOW, Apr 2 (PRIME) -- Russia remains fully committed to reaching of a balance on the oil market having fulfilled the terms of the OPEC plus nonmember oil output reduction agreement by 93.4% in March, Energy Minister Alexander Novak told reporters on Monday.

УRussia is fully committed to attaining a balance on the oil market,Ф Novak said.

УRussia reached an output reduction level of 93.4% in March. The fluctuations of liquid hydrocarbons production in March were caused by a high gas demand, as well as by the seasonal factors of the domestic market.Ф

The OPEC states agreed to reduce their production by 1.2 million barrels daily to 32.5 million barrels in November 2016. Russia joined the agreement in December 2016 with a promise to cut output by 300,000 barrels daily compared with the level of October 2016. In late 2017, ministers of OPEC states agreed to prolong the deal until the end of 2018.

End

02.04.2018 14:10
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 77.3832 -0.3012 26 sep
USD 65.8244 -0.3350 26 sep
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1169.04 +0.52 18:50 25 sep
micex 2444.22 +0.58 18:50 25 sep
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 160.65 +1.04 18:32 25 sep
lkoh 4886.50 +2.23 18:32 25 sep
rosn 458.85 +2.64 18:32 25 sep
sber 195.95 -1.41 18:32 25 sep
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 77.5600 -0.8850 14:59 25 sep
USDTD 65.7650 -0.7025 17:44 25 sep