Reuters: OPEC + will not increase oil production due to Russia’s decision to cut oil production

OPEC+ member countries are not going to take any action due to the reduction in oil production in Russia by 500 thousand barrels per day since March. This was reported Reuters with reference to two delegates of the organization.

Today, February 10, Russian Deputy Prime Minister Alexander Novak announced on the reduction of oil production from March by 500 thousand barrels per day. He also said that Russia would not sell oil to those who directly or indirectly adhere to the price ceiling. In the Kremlin spokethat Russia consulted with some OPEC+ countries before making a decision.

From December 5, the oil price ceiling at $60 per barrel came into force, from February 5 – for oil products from Russia at $100 and $45 per barrel (for products that are traded at a premium and a discount to oil, respectively). “b” wrotethe Russian government is going to tie the calculation of oil taxes to the cost of Brent because of the threat of lower revenues.

According to Kommersant’s information, in the first week of February, Russian oil companies increased the production of raw materials in Russia by 0.7%, to 1.491 million tons per day (compared to the average level in January). During the year, oil companies were practically able to restore the pre-sanction level of oil production.

More details – in the publication “Kommersant” “Loot comes true”.

Olesya Pavlenko