The Russian Federation continues to voluntarily reduce its oil exports to world markets, which started in August and is now 300,000 barrels per day, in September. This has been reported DEA News.
According to Russian Deputy Prime Minister Alexander Novak, Russia was supposed to reduce its oil exports by 500,000 barrels per day in August, in addition to the previously announced production cut. To fulfill this task, oil companies have to decide for themselves whether to reduce their production or their exports.
He later announced the extension of this measure until September, but now the reduction should be 300,000 bpd.
According to Sergey Kolobanov, Deputy Director of the Economic Center for the Fuel and Energy Complex Sectors of the Russian Central Socialist Republic, it would be “helpful” to announce that oil prices are continuing to keep oil prices at a fairly high current level. Russia’s voluntary reduction of exports.
Prior to that, Igor Yushkov, a leading analyst at the National Energy Security Fund declarationWe think that the price of reference North Sea brand Brent will fluctuate in the $80-$90 corridor in the near future.
Previously recognizedWhen oil prices drop to $50 a barrel.