Russia agreed to cut oil production under OPEC deals+ write media

© AP Photo / Hasan JamaliНефтяной the machine-rocking. Archival photoRussia agreed to cut oil production under OPEC deals+ write media© AP Photo / Hasan Jamali

Russia under the deal, OPEC+ agree to cut oil production by 150 thousand barrels per day, according to the Agency Bloomberg, citing sources.

«The representatives of the ministries of energy of both countries (Russia and Saudi Arabia — ed.) met last weekend in Moscow, but differed in the question of how to distribute the load in any new reductions. Russia agrees to cut oil production by 150 thousand barrels per day maximum; Saudi Arabia insists on a more equal partnership», — says the Agency, citing sources familiar with the negotiations.

On Saturday, Russian President Vladimir Putin at the summit G20 in Argentina, said that Russia and Saudi Arabia have agreed to extend the agreement OPEC+, but there is no understanding of volume. And the Minister of energy of Russia Alexander Novak after meeting with his Saudi counterpart on the sidelines of the summit said that the approaches to future OPEC agreement+ to be agreed in the coming days, before the conference in Vienna.

The meeting of the Ministerial monitoring Committee of OPEC+ will take place on 5 December in Vienna, 6 December will be the meeting of Ministers of OPEC member countries, and on 7 December, the Ministers of all 25 member countries of the OPEC agreement+.

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