Russia Says Its Pledged Oil Cuts Will Last Through June
- Planned output cuts are to be achieved within days, Novak says
- Russia says Western bans create risks for the energy market
This article is for subscribers only.
Russia has decided to keep its oil production at a reduced level through June, taking into account the current market situation, according to Deputy Prime Minister Alexander Novak.
The country last month pledged to reduce its crude-only output by 500,000 barrels per day in March in response to western energy sanctions. It’s currently close to making this planned cut and will achieve the targeted output level within days, Novak said in a statement, without providing any further details.