No differences between Russia, Saudi Arabia under OPEC+ deal – Russian deputy PM

Business & Economy June 04, 2023, 21:38

Countries always find a common solution, Alexander Novak noted

VIENNA, June 4. /TASS/. Russia and Saudi Arabia had no differences on the OPEC+ deals, the two countries always manage to find a common solution, Russian Deputy Prime Minister Alexander Novak said on Sunday.

"No, there were no differences. We always find common solutions. For years, our agreements have been in force in the interests of the market, in the interests of the countries participating in the agreement, and in the interests of both exporters and producers," he said.

"We always find common solutions with Saudi Arabia. Naturally, we always have preliminary discussions, but nevertheless we always reach concord," he added.

He said earlier that Russia will extend its voluntary production cut by 500,000 barrels a day throughout 2024. It will be calculated from the 2024 quota, which has been reduced to 9.828 million barrels a day as part of the deal.

Saudi Arabia also decided to extend its voluntary daily production cuts by 500,000 barrels until the end of 2024.

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