Deputy Prime Minister of the Russian Federation Alexander Novak said that Russia will continue with an additional voluntary cut of 300 thousand barrels per day (b/d) in the supply of oil and petroleum products to world markets until the end of 2023. This was reported by TASS.
According to him, a market analysis will be conducted in December to decide whether to deepen the decrease or increase in oil production. This measure is in addition to the voluntary production reduction of 500 thousand barrels per day, which Russia previously announced in April 2023 and will last until the end of December 2024.
Before that, it was known that Russian oil was re-supplied by sea. started It is growing despite US sanctions on tankers carrying Russian oil.
The growth occurred against the background of an increase in shipments from the Black Sea and the restoration of supplies from Murmansk. At the same time, Russia is generally adhering to its agreement with Saudi Arabia to reduce production by 300 thousand barrels per day.
Previously recognizedWhen oil prices fall to $50 per barrel.