Date: 7 months ago   Category: Energy

Reuters learned about readiness of Russia to reduce oil production in 2019 — Rambler News Service


Photo: globallookpress.com/Daniel Radicevic Russia is ready to reduce oil production in 2019 within the agreement with OPEC, the Reuters agency with reference to own sources reports. As notes the agency, in the run-up to the meeting of member countries of the agreement of OPEC and the countries which are not entering cartel about reduction of level of oil production (the transaction of OPEC) in Vienna on December 6-7, in the Ministry of Energy of the Russian Federation the meeting with participation of representatives of the Russian oil companies took place. "The idea was in what Russia will need to reduce too (production in 2019). The question is in how quickly and on how many" — told one of sources. "Most (participants) agreed that we cannot immediately reduce, process has to be gradual, as well as last time" — other interlocutor of the edition explained. According to arrangements with OPEC, Russia had to reduce oil production by 300 thousand barrels a day to an indicator of October, 2016 when oil production made 11.247 million barrels a day (according to the Ministry of Energy of the Russian Federation). On April 28, 2017 the Ministry of Energy of the Russian Federation reported that Russia achieved the stated production reduction. On June 23, 2018 the OPEC countries at a meeting in Vienna made the decision to increase production since July 1, 2018 approximately by 1 million barrels a day — before 100 percent observance of terms of transaction. The Minister of Energy of the Russian Federation Alexander Novak explained that the share of Russia in the general increase in oil production of the countries of OPEC can make about 200 thousand barrels a day.

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