Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Russia has Made up a Schedule for Reducing Oil Production by Months
18.12.2018 00:05
Russia has Made up a Schedule for Reducing Oil Production by Months

Russia has made up a schedule for reducing oil production by months within the frame of the OPEC + transaction, as TASS quotes the words of Energy Minister Aleksandr Novak.

      In January, it is planned to reduce production by 50-60 thousand barrels per day.

      According to Novak, the schedule of monthly production implies “a smooth, gradual decrease in production in accordance with the agreements”. “The Head of the Energy Ministry also reported that he would hold a meeting with oil companies in December: it is planned to discuss the implementation of the transaction at that meeting.

      The OPEC + transaction was concluded in Vienna last week. Russia agreed to reduce production by 228 thousand barrels per day to reach the level of October 2018. Back then oil production volume amounted to 11.4 million barrels per day. As Novak stated, the main task of the transaction was to achieve a reduction in reserves, “so that they do not rise above the five-year average level”.

      Read More Articles on Business in Russia


Author: Anna Dorozhkina

Tags: Russian oil Russian business    

Next Previous

You might also find interesting:

Catering Companies Change their Business due to the Pandemic
Tinkov Lost Control of TCS Group after the Conversion of Voting Shares
Franchise Business in Russia Went Down
The Amount of Tax Benefits for Moscow Business will Exceed 170 Billion Rubles
The Central Bank will Restrict the Sale of Complex Investment Products to Inexperienced Investors

comments powered by Disqus

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Heroism   travel to Russia  Exhibitions in Moscow  Eurasian Modern Art Festival   Russian tourism  Russian business  Pskov Region  Moscow  Opposition  Kirov Region  Festivals in Moscow  Sergey Kirienko  Russian arms  Anti-plagiarism  Banksy  Lipetsk Region  Eldar Ryazanov  Yeisk  Kievian Rus'  Boris Grebenshchikov  Russian rouble  Russian parliament  Stay Home Online Events  Krasnoyarsk  Russian poetesses  Russian regions  St. Petersburg  Shushensky Bor  Events in Saint Petersburg  Karachay-Cherkessia  physics  Konstantin Batyushkov  Russian Theater  Ornaments  Chinghiz Aitmatov  inventions  Olympic Games 2012  Eurovision  Wooden Architecture  Russian Cinema  Moscow tours  Chebarkul Meteorite  Republic of Tatarstan  Russian legislation  Mercedes-Benz Fashion Week Russia  Enrique Iglesias  Beloretsk  Eccentricities  Life Saving  Russian industrial areas 

Travel Blogs
Top Traveling Sites