MOSCOW, July 17. /TASS/. Russia cuts its export schedule for August within voluntary oil export reduction, according to a statement released by the Energy Ministry on Monday. The decrease in transportation of oil via pipelines outside Russia will total around 2.1 mln tons in Q3 2023.

"Russia cuts export schedule for August within the framework of voluntary oil export reduction. In accordance with the decision on voluntary reduction of oil exports by the Russian Federation in August 2023 by 500,000 barrels per day the schedule of oil transportation via main pipelines outside Russia for Q3 2023 will be lowered by around 2.1 mln tons, which is in line with the outlined level of export reduction for August," the statement reads.

That said, the decrease in the volumes of export schedule will affect both shipments toward Russian seaports (Novorossiysk, Primorsk, Ust-Luga) and pipeline supplies, the ministry noted.

Russian Deputy Prime Minister Alexander Novak told reporters earlier that Russia had made a decision to voluntarily cut oil supplies to markets by 500,000 barrels a day in August through reducing exports.