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Russia consulted with several OPEC+ states before deciding to cut oil production — Kremlin

It is noted that Russia plans to voluntarily cut oil production by 500,000 barrels per day in March

MOSCOW, February 10. /TASS/. The Russian side consulted with several OPEC+ members before deciding to voluntarily cut oil production in March, Kremlin spokesman Dmitry Peskov told reporters on Friday.

"There were conversations with a number of OPEC+ members," he said in response to a related question.

Peskov declined to explain what the purpose of the decision to voluntarily cut oil production was.

"You’d better ask [Deputy Prime Minister Alexander] Novak for clarification, because we're talking about his statement," he said.

Earlier on Friday, Novak said that Russia plans to voluntarily cut oil production by 500,000 barrels per day in March. A representative of Novak said that the reduction in production will affect only oil, excluding gas condensate.

A TASS source in the industry said that Russia decided to cut production on its own, without consulting with OPEC+.