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Russia to reduce oil production to 9 mln barrels daily in June — Novak

This production cut is in addition to the voluntary reduction by 500,000 barrels daily announced by Russia earlier, which will continue until late December 2024

MOSCOW, April 3. /TASS/. Russia will cut oil production to 9 mln barrels daily, Deputy Prime Minister Alexander Novak told reporters.

"Exactly nine [mln barrels per day]. This is the level Russia is to achieve in June," the official said.

Earlier reports said that Russia will slash oil production and exports in the second quarter of this year by 471,000 barrels daily in average broken down by three months within the framework of OPEC+ voluntary undertakings.

This production cut is in addition to the voluntary reduction by 500,000 barrels daily announced by Russia earlier, which will continue until late December 2024.