Russia Falls Short of OPEC+ Oil Output Cuts Target in March
- Country reduced oil production by 190,000 barrels a day
- Previously pledged output cut of 228,000 barrels a day
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Russia fell short of its oil-output cut under the OPEC+ deal in March even as the country deepened its curbs.
The nation’s production at the end of March was 190,000 barrels a day below October levels, Energy Minister Alexander Novak said in a statement on the ministry’s website on Tuesday. That’s smaller than the 228,000 cut pledged in Russia’s deal with allies in the Organization of Petroleum Exporting Countries.