Russia to cut oil output by 471,000 bpd in second quarter

AFP , Sunday 3 Mar 2024

Russia will cut oil production by almost half a million barrels per day in the second quarter of 2024, Deputy Prime Minister Alexander Novak said Sunday.

Russian oil production
Moscow will reduce output by 350,000 barrels a day (bpd) in April, by 400,000 bpd in May and then 471,000 bpd in June. AFP

 

Moscow will reduce output by 350,000 barrels a day (bpd) in April, by 400,000 bpd in May and then 471,000 bpd in June, as part of a voluntary agreement to cut production with other OPEC+ oil producers, Novak said in a statement published by the Russian government.

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