Russia orders firms to chop oil output to satisfy OPEC+ goal

Russia’s authorities ordered corporations to scale back oil output in Q2 in an effort to hit a manufacturing goal of 9 million barrels per day (bpd) by the top of June.

That is in compliance with its pledges to OPEC+. Again in early March Novak made the promise:

Reuters (information was out Monday) carry the knowledge, citing three unnamed trade sources. Extra:

  • Russia plans to steadily ease the export cuts and concentrate on solely decreasing output
  • sources stated the federal government had given particular targets to every firm

This text was written by Eamonn Sheridan at