Sources say Russia has told firms to slash oil production 20%
Under the deal, Moscow has to cut its oil production by 2.5-million barrels per day from May
20 April 2020 - 16:20
Moscow — The Russian energy ministry has told domestic oil producers to reduce oil output by about 20% from their average February levels, two industry sources told Reuters on Monday, which would bring Moscow in line with its commitment under a global deal.
Oil cartel Opec and other large oil producers led by Russia, a group known as Opec+, agreed to cut their combined oil output by 9.7-million barrels per day (bpd) in May and June to combat oversupply triggered by the coronavirus crisis...
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