Official: Russia fulfills OPEC+ deal by almost 100% in April

MOSCOW, May 12 (PRIME) -- Russia fulfilled the OPEC plus oil output reduction agreement by a little less than 100% in April, Deputy Prime Minister Alexander Novak told reporters on Wednesday.

"Concerning fulfillment of obligations by our companies (under the OPEC plus deal), we are monitoring very carefully that they fulfill their obligations fully. We already have April data on fulfillment of the deal … We strive for a 100% fulfillment, it was slightly less than 100% in April, but we will fulfill these obligations fully," Novak said.

The OPEC+ countries agreed to reduce their oil output by significant 9.7 million barrels per day in May 2020 to fight the consequences of the global coronavirus crisis, with Russia’s share of 2.5 million barrels per day. Reduction quotas were adjusted several times, and the reduction target amounts to 6.9 million barrels per day as of April 2021.

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