Russia confirmed this Wednesday that it will maintain the reduction in its oil exports at 300,000 barrels per day in September and has not ruled out extending the additional voluntary cut in the supply of crude oil to the market until October.
“We’ll see. Now we are following the situation and evaluating the market together with colleagues from other countries. We will do what the market demands,” Russian Deputy Prime Minister Alexander Novak was quoted as saying by the official TASS news agency. .
In September, the reduction will be 300,000 barrels compared to the level of June, when there was no supply cut, explained the minister.
In March, Russia began a voluntary reduction in production of 500,000 barrels per day from the February average.
The production cut, which was then extended several times, is aimed at boosting oil prices.
Source: TSF
