OPEC+ plans no action after Russian oil cuts

OPEC+ plans no action after Russia announced oil output cuts, two OPEC+ delegates told Reuters, Report informs.

Earlier, Russian Deputy Prime Minister Alexander Novak announced a reduction in oil production by 500,000 barrels per day since March. He also said that Russia would not sell oil to those who directly or indirectly adhere to the price ceiling.

Russia took retaliatory measures against the application of the price cap, which came into force on February 1.