Russiаn company «Rusneft» will reduce oil production according to OPEK agreement, says the head of Russian Ministry of Energy Aleksandr Novak. The minister said, that «all companies agreed to reduce the production» answering the question whether Rosneft agrees to reduce it as well.
Agreement to reduce oil production up to 32,5 million barrels per day was made at OPEK summit on November, 30 in Vienna. The OPEK countries addressed the non-members of oil cartel to reduce volumes of oil production to 600 thousand barrels per day. The organization will hold one more meeting on May, 25, 2017 where it’s planned to prolong period of reduction agreement for another 6 months.
Arranging a settlement of oil production reduction in OPEK has become the first since 2008.
Novak said on November, 30, that Russia welcomes the decision of OPEK and is ready to join the agreement. According to him, Russia will phase out oil production in the first half of 2017 at the volume up to 300 thousand barrels «based on the technical possibilities», reported media-service of Ministry of Energy.
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