Russian Energy Minister Alexander Novak, in an interview with CNBC, said that the country has reduced oil production under the agreement of the oil-producing countries by 200,000 barrels per day. By the end of April, it is planned to cut production by 300,000 barrels a day, Prime reports.
"Russia is gradually reducing production, in January-February reduction was faster than expected. Today, in March we reached a reduction of production by 200,000 barrels per day and expect to reach the figure in accordance with the agreement by the end of April - it will be 300,000 barrels ", Novak noted.
Such statements were made within the framework of the Arctic Forum taking place in Arkhangelsk.
The contract to reduce oil production was concluded by OPEC countries and non-member countries at the end of 2016. According to it, Russia, starting from January 1, 2017, should cut production by 300,000 barrels per day, compared with the figures registered in October 2016, or by 2.7%.