Russian Energy Ministry, Oil Industry Discuss Keeping Production Cuts After June - Source

Fahad Shabbir (@FahadShabbir) Published May 27, 2020 | 12:00 AM

Russian Energy Ministry, Oil Industry Discuss Keeping Production Cuts After June - Source

MOSCOW (UrduPoint News / Sputnik - 27th May, 2020) The Russian Energy Ministry is discussing with Russian oil companies the possibility of keeping current level of production decline after June, while it may even slightly increase under the current terms of the OPEC+ deal, and the opinions of the parties so far differ, a source familiar with the discussion told Sputnik on Tuesday.

On Tuesday, Energy Minister Alexander Novak met with representatives of oil companies to discuss the OPEC+ deal.

"It was discussed, there is no consensus yet," the source said, commenting on whether the meeting discussed the extension of the current level of reduction in oil production, which so far is applied only for May-June.

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