Report: OPEC+ may put off output cut due to Russia’s resistance

MOSCOW, Dec 4 (PRIME) -- OPEC and non-OPEC states may postpone a further reduction of oil production due to Russia’s resistance to a significant cut, Reuters news agency reported on Tuesday quoting sources.

“OPEC and its allies are working towards a deal to reduce oil output by at least 1.3 million barrels per day… (because) Russia’s resistance to a significant production cut was so far the main stumbling block,” it said.

Russian sources have indicated the country could contribute some 140,000 barrels per day to a reduction, but OPEC insists Moscow cut by 250,000-300,000 barrels per day, Reuters added.

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