Russia committed to major oil production cuts – Novak ...News

Supplies to the EU have already dropped by two-thirds, Deputy Prime Minister Aleksandr Novak says Russia remains committed to a voluntary oil production cut of 500,000 barrels per day (bpd), Deputy Prime Minister Aleksandr Novak stated on Thursday, commenting on “speculation in the media.”  Bloomberg claimed on Tuesday that there was no evidence that Moscow was implementing a production cut, citing tanker-tracking data. Aggregate flows of Russian crude jumped to 4.08 million bpd in the seven days to April 28, according to the outlet.   Novak argued that the media had failed to take into account a “significant redu

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