Source: Russia agrees with OPEC+ rollover, unsure about more cuts

VIENNA, Mar 6 (PRIME) -- Russia intends to sign an agreement on coronavirus-related actions with the other states of the OPEC plus nonmember deal but has not formulated a position on additional reduction, a source in the Russian delegation told PRIME on Friday.

“We agree with the prolongation but there is no agreement as to the volume,” the source said, adding: “There will be an agreement between Russia and the OPEC plus participants anyway.”

Late on Thursday, OPEC said in a statement that it had revised its recommendation on the OPEC+ deal and currently proposes to reduce oil production by an additional 1.5 million barrels per day until the end of 2020 instead of until June 20 proposed earlier.

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