ST. PETERSBURG, June 15. /TASS/. Gazprom Neft has complied with the terms of voluntary oil output reduction within OPEC+, Chief Executive Officer Alexander Dyukov told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF), adding that the company would maintain the reduction level in 2023-2024.

"Yes, fulfilled. [The company’s share in reduction volumes] is proportionate to [Russia’s] production," he said.

"This decision [to maintain reduction by 2024] has been taken, it will be maintained. We will follow this instruction," CEO added.

It was announced in March 2023 that Russia would gradually cut output by 500,000 barrels per day from the level of this February. Later the decision on voluntary reduction was extended by the end of 2024.

The 26th St. Petersburg International Economic Forum (SPIEF) - Russia’s showcase annual economic and business event - is being held on June 14-17. 'Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations' is theme of this year’s forum. TASS is the official information partner of the event.

SPIEF’s expanded business program offers attendees the opportunity to participate in more than 140 sessions featuring over 1,000 moderators and speakers, according to event organizer Roscongress Foundation. In line with tradition, Russian President Vladimir Putin will address the plenary session of SPIEF on Friday.