MOSCOW, October 2. /TASS/. Russia intends to fulfill the terms of the OPEC+ deal in October and reduce oil production by 228,000 barrels per day to the level of October 2018, Russian Minister of Energy Alexander Novak told reporters on the sidelines of the Russian Energy Week forum.
"Yes, we will do it," he said.
Earlier, he said that as of September 30, Russia had reduced production by 200,000 barrels per day.
Meanwhile, Head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev said that the Russian budget has already received more than $100 bln from the OPEC+ deal. "The Russian budget has received more than $100 bln from this deal. Especially now that the markets continue to be volatile, it is very important," he said.
According to Dmitriev, "few believed that it would be possible to agree with Saudi Arabia and other OPEC countries, there was a lot of mistrust at the beginning." "But this distrust was overcome," he said.
OPEC+ countries (24 oil exporting countries, including Russia) have been coordinating production management since 2017. The agreement in effect until the end of the Q1 of 2020 implies a total reduction in oil production by 1.2 mln barrels per day to the level of October 2018, including 812,000 barrels per for OPEC countries, and 383,000 barrels for the countries outside of the organization.