In the coming days, the Russian Federation will reach the goal of reducing production by 500,000 barrels per day, Alexander Novak said.
The aggressor country Russia has decided to extend the “voluntary” reduction in oil production by 500 thousand barrels per day (b / d) for another three months – until June inclusive. This was stated by the Deputy Prime Minister of the Russian Federation Alexander Novak, TASS reports on Tuesday, March 21.
“According to the current market situation, the decision to voluntarily reduce production to the amount of 500 thousand barrels per day will be valid until June 2023 inclusive,” he said.
According to Novak, Russia is close to reaching the target level of oil production reduction of 500,000 bpd and will reach it in the next few days.
As you know, since March, Russia began a “voluntary” reduction in oil production by 500,000 barrels per day. In fact, the aggressor country was forced to take such a step, because it had a very limited sales market after the embargo and price ceiling were introduced by the Western countries.
It is also known that Russia is forced to sell oil at huge discounts to get at least the money.
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Source: korrespondent
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