Last month, Russia cut more than agreed upon OPEC + deal, Novak says

Last month, Russia cut more than agreed upon OPEC + deal, Novak says

In July, Russia exceeded the quota for reducing oil production under the OPEC + agreement, Russian Energy Minister Alexander Novak said.

“In July, Russia fulfilled its obligations under OPEC +. By the end of July, production compared to October 2018 decreased by 290 thousand barrels per day. In August 2019, Russia intends to maintain oil production at the levels previously agreed upon within OPEC +”, he said.

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