Russia Says OPEC+ Is Sacrificing Market Share for a Purpose ...Middle East

OILPRICE - Economy
Russia Says OPEC+ Is Sacrificing Market Share for a Purpose
source : OILPRICE ( Middle East ) () 59
OPEC+ oil producers are ceding market share by tightening supply in order to secure investments ensuring long-term supply, Alexander Novak, Russia’s deputy prime minister and top OPEC+ official said. “Yes, we are probably deliberately moving, temporarily losing market share, but we are looking forward not to today, but to the future,” Novak told Al Arabiya in an interview. He added that Russia will remain a member of OPEC+ beyond the end of 2025 when the current output cuts are supposed to be phased out. “Everything is based…

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