Putin called the reduction of oil production

Photo: RIA Novosti/Alexei Druzhinin

Russia may cut oil production in the order of 10 million barrels per day, but this process needs to be “partnership”. This was stated by Russian President Vladimir Putin, reports RIA Novosti.

the Head of state commented on the upcoming meeting of OPEC members+. In the videoconference, the parties are ready to return to the issue of reducing oil production.

“According to preliminary estimates, I think, that speech can go about decrease in volume of 10 million barrels per day, slightly less, maybe slightly more. Of course, all of this should occur in a partner,” he said.

the President noted that potential reductions should be counted from the production figures prior to the crisis, that is, in the first quarter of 2024.

Earlier on Friday, April 3, the price of Brent crude oil exceeded $ 34 per barrel. In General, the crisis in the oil industry emerged because of the failure of the Treaty of OPEC countries+ in terms of reduction of volumes of oil production. From this measure declined Russia and Kazakhstan.

see also

Price of Russian oil Urals has grown by almost 4 dollarnew allowed a reduction of demand for Russian gas stations by 40% in the coming weeks the Plot:the Fall in oil prices and the ruble exchange rate