Home / Metal News / Russia Is Close to the Target of Reducing Oil Production by 500,000 Barrels/Day

Russia Is Close to the Target of Reducing Oil Production by 500,000 Barrels/Day

iconMar 23, 2023 16:28
Source:财联社
Last month, Novak announced that Russia would voluntarily cut oil production by 500,000 barrels per day in March, or about 5% of the production level, in response to price cap measures imposed by Western countries on Russian energy.

Last month, Novak announced that Russia would voluntarily cut oil production by 500,000 barrels per day in March, or about 5% of the production level, in response to price cap measures imposed by Western countries on Russian energy. At that time, this news once pushed up the international crude oil price.

In his latest statement, Novak wrote that Russia had come close to this commitment to reduce output and would achieve the reduced production level in the coming days, without giving further details. He added that this level of production would be maintained until the end of June.

Market

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Events & Webinars

All