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:

Roskomnadzor has Blocked the Service for the Delivery of Goods from Foreign Online Shops
Artificial Intelligence in Russian Business
Russia Can Tighten Control over the Activities of Foreign Payment Services
10 Startups have Become Finalists of the MTS Corporate Accelerator
IIDF Annouonced Participants of Its New Accelerator

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Russian tourism  Chinghiz Aitmatov  Contemporary Arts  Kemerovo Region  Mercedes-Benz Fashion Week Russia  Award Ceremony  Hermitage  TNK-BP  Ski resorts  Petersburg Monuments  Russian designers  Monuments to People  Photo Biennale  National Tension  Alexander Andreyevich Ivanov  Valeriya Guy Germanika  Astrakhan  Maxim Gorky  Russian caricature  Russian Cinema  Ivan Okhlobystin  Orthodoxy  Rosobrnadzor   Chelyabinsk Zinc Plant  Rostov Region  Russian business  Open-Air Concerts  Exhibitions in Moscow  Moscow  Mercedes-Benz Fashion Week   crisis  Moscow Region  Mikhail Bulgakov  Russia - My History  Military  Festivals in Moscow  mobile technologies  Graphic Art  Dmitry Plavinsky  Kirov Region  Saint Petersburg  Altai  St. Petersburg  Russian minister  Samutsevich  double-decker bus   Russian Photographers  travel to Russia  Russian regions  Saint-Petersburg  

Travel Blogs
Top Traveling Sites