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12/6/2019, 3:34 PM (Source: TeleTrader)
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Novak: OPEC+ to cut output by 500K in Q1 2020

Russian Energy Minister Alexander Novak said in Vienna on Friday that there is no change in quota for Russian production cuts after the OPEC and non-OPEC oil producers meeting.

He added that countries decided to reduce production by 500,000 barrels per day in the first quarter of 2020. Novak also stressed that Russia's production cut has been increased by 70,000 barrels per day according to the new agreement.

Breaking the News / VP