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Russia starts reducing oil exports within OPEC+ in July

In March, Russia began a voluntary reduction in oil production by 500,000 barrels per day from the February average output

ST. PETERSBURG, July 28. /TASS/. Russia has already started reducing oil exports under OPEC+ voluntary commitments in July, Energy Minister Nikolay Shulginov told TASS on the sidelines of the Russia-Africa summit, adding that the country plans to fully meet the commitments in August.

"We have already started the reduction in July to reach the agreements that we announced. We will meet all our voluntary commitments," he said.

In March, Russia began a voluntary reduction in oil production by 500,000 barrels per day from the February average output. Moscow also decided to voluntarily cut oil supplies to markets by 500,000 barrels per day in August by cutting exports.

The second Russia-Africa summit is running at St. Petersburg’s Expoforum convention center on July 27-28. An economic and humanitarian forum is running in parallel to the event. Like the previous summit, this one is held under the motto 'For Peace, Security, and Development.' The Roscongress Foundation is the summit’s organizer while TASS is its photo hosting agency and media partner. TASS is also holding the second Russia-Africa Media Forum.