Russia says OPEC+ sees no need for further oil output cuts ...Kuwait

The New Arab - News
Russia says OPEC+ sees no need for further oil output cuts
source : The New Arab ( Kuwait ) () 41
Russian Deputy Prime Alexander Novak said on Thursday the OPEC+ group of leading oil producers saw no need for further oil output cuts despite lower-than-expected Chinese demand, but that the organisation can always adjust policy if necessary. He said Russia reached its targeted output this month after announcing cuts of 500,000 barrels per day (bpd), or 5 percent of its oil production, until the year-end. Russia is part of the OPEC+ group of oil producing countries that announced a combined reduction of around 1.16 million bpd earlier this month, a surprise decision the United States described as unwise. Novak said Russian oil and gas condensate production is expecte

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