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US May Cut Oil Production By Over 1.7Mln Bpd In 2020 - RDIF

Umer Jamshaid Published April 09, 2020 | 11:10 PM

US May Cut Oil Production by Over 1.7Mln Bpd in 2020 - RDIF

MOSCOW (UrduPoint News / Sputnik - 09th April, 2020) The United States may cut its oil production by more than 1.7 million barrels per day already this year, the Russian Direct Investment Fund's (RDIF) CEO Kirill Dmitriev told Bloomberg in an interview.

He also noted that the lack of stability in the US oil and gas sector put at stake almost 10 million jobs in the country.

Oil prices fell sharply on the global markets in early March after parties to the OPEC+ deal on output cuts failed to agree on the extension of the agreement past April 1. In addition, the uncertainty over the coronavirus pandemic and virus-linked restrictions, including widespread air travel suspensions, have dampened oil demand.

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