Russia Reduced Oil Production By 500,000 Bpd - Deputy Prime Minister

Fahad Shabbir (@FahadShabbir) Published June 04, 2023 | 09:50 PM

VIENNA (UrduPoint News / Sputnik - 04th June, 2023) Russia has reached the voluntary reduction of oil production by 500,000 barrels per day, Russian Deputy Prime Minister Alexander Novak said on Sunday.

"According to the Energy Ministry, we have reached the announced 500,000 barrels per day and we will continue to implement the agreements reached," he told reporters.

Commenting on Sunday's decision of OPEC+ to adjust the total level of oil production from 2024 to 40.46 million barrels per day, Novak said that it was in the interests of the world market and that Russia and Saudi Arabia had no disagreement on this issue.

"We had no disagreement, this is a joint decision. As you know, our agreement works in the interests of the market, in the interests of the countries participating in the agreement," he said.