The Kremlin briefing summarized that Dmitry Peskov, the press secretary for the Russian president, consulted with multiple OPEC+ members before Russia chose to voluntarily reduce oil production in March. The spokesman indicated that discussions occurred with a number of OPEC+ participants, though he did not detail the objective behind the voluntary cut and advised directing any further clarification to Deputy Prime Minister Alexander Novak, who oversees energy policy. Peskov suggested that Novak would be the right person to explain the policy move since Novak had testified about it himself.
Earlier in March, Alexander Novak signaled that Russia would cut oil output and outlined an expectation that the reduction would support the restoration of more stable market relations. Novak also noted that a ceiling price mechanism would apply to both crude oil and refined products. He warned that shortages could occur if price controls or supply restrictions disrupted markets, describing these measures as interference in market relations and criticizing what he called the ongoing energy policies of Western countries as counterproductive to global energy stability.
Russian officials framed the voluntary production cut as a step aimed at aligning with broader market dynamics, while emphasizing that policy tools such as price ceilings would be used carefully to prevent abrupt price spikes. Observers have noted that the move comes amid a complex global energy backdrop, where supply decisions by major producers may influence prices and availability across regions. The statements from Peskov and Novak reflect official attempts to balance market expectations with strategic objectives in energy diplomacy and economic policy. Attribution: Kremlin press office and official statements from the Russian Deputy Prime Minister’s energy portfolio.