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OPEC+ monitoring welcomes Russia’s decision to cut oil production

The next meeting of the ministerial monitoring committee is scheduled for June 1

MOSCOW, April 3. /TASS/. The OPEC+ Joint Ministerial Monitoring Committee welcomed the decision of Russia to reduce oil production, rather than export, in the second quarter of this year, according to the final communique posted on the OPEC’s website.

Countries that did not fully perform obligations on oil production cuts were asked to furnish plans to compensate insufficiently lowered volumes to the OPEC Secretariat by April 30, the document reads.

The next meeting of the ministerial monitoring committee is scheduled for June 1. No recommendations on oil production were given this time.

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