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Russia to fully compensate surplus oil production in OPEC+ in August, September

"It is early to speak about the further accelerated production growth within the framework of the voluntary part of the agreement," Russian Deputy Prime Minister Alexander Novak noted

ALMETYEVSK, July 11. /TASS/. Russia plans to fully compensate the surplus oil production in August-September, in line with the current schedule, Deputy Prime Minister Alexander Novak told reporters at the oil summit in Tatarstan.

"Yes, we have the same schedule, we will complete sometime in August - September. We have the compensation schedule. We will progress according to it because these are our obligations, we always performed them and will perform," Novak said.

It is early to speak about the further accelerated production growth within the framework of the voluntary part of the agreement, Novak noted. "I cannot comment on future decisions because we meet every months and discuss what we need to do on the basis of the current market situation," he added.

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