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Russia expects oil cuts of 5 mln bpd on top of OPEC+ (Reuters)
Russia expects oil cuts of 5 mln bpd on top of OPEC+ (Reuters)
Last Modified: 08:12 PM, Fri Apr 10, 2020
10 April 2020
MOSCOW (Reuters) - Russian Energy Minister Alexander Novak said on Friday he expected oil production cuts by countries outside of the OPEC+ group to amount to 5 million barrels per day (bpd).
"We believe that, in addition to the 10 million barrels (per day), which was undertaken by OPEC+, there would be another 5 million barrels (per day) from oil producers outside of OPEC+," he told Russian state television channel Rossiya-24.
Novak said Canada, which is not a member of OPEC+, was ready to cut oil output by around 1 million bpd. He didn't say how much the United States could contribute.
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Creditline: Reuters
Slugline: GLOBAL-OIL/OPEC-RUSSIA-NOVAK (URGENT)
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