Deputy Prime Minister Alexander Novak said that the reduction in additional volumes of Russian oil exports will be gradually returned to the market to maintain stability in the future. RIA News.
“To maintain market stability in the future, these additional discounts will gradually return to the market depending on market conditions,” he explained.
According to the official, the purpose of additional voluntary reduction measures is to strengthen the preventive steps taken by OPEC+ countries to maintain the stability and balance of oil markets.
Additionally, Novak said that Russia will deepen the additional voluntary cut in oil supplies to 500 thousand barrels per day and extend it until the end of the first quarter of next year.
He explained that the decision regarding oil production within OPEC+ aims to get through the winter at a time when demand is low.
This is before Novak reportedIt was stated that Moscow and Ankara may soon reach an agreement on a road map for establishing a gas center on Turkish territory.
Putin before details revealed Project to create a gas center on Turkish territory.
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