Baku 16° C
Russia to fulfill OPEC+ deal on output cut
Energy
- 18 May, 2020
- 13:46
Add Report.az to preferred Google sources
Stay up to date with the top news!
Russia will fulfill the OPEC+ deal on cutting oil output, said Energy Minister Alexander Novak, Report informs.
The minister said the oil market is recovering, and demand for oil is gradually increasing.
According to the latest amendment in the ‘Declaration of Cooperation,’ the quotas for OPEC+ countries are set at 9.7 million barrels in May-June, 7.7 million barrels from July 1 until the end of 2020, and 5.8 million barrels from January 2021 to April 2022.
According to the new agreement, Russia is planning to cut the output by 2.5million barrels to 8.5 million barrels in May-June 2020.
Author
Rusiya neft hasilatının azaldılması barədə razılaşmaya əməl edəcək
Россия намерена строго соблюдать договоренности ОПЕК+
Latest News
20:04
Azerbaijan offers condolences to Spain over deadly train accident
Foreign policy
19:50
Photo
Azerbaijan, Somalia explore cultural ties and experience exchange
Cultural policy
19:35
Azerbaijan's Central Bank plans AI governance guidance by year-end
Finance
19:26
Photo
Leyla Aliyeva and Arzu Aliyeva attend concert presented as part of 'Aria of Heaven' project
Cultural policy
19:22
Photo
Azerbaijan, Maldives discuss prospects for cultural cooperation
Cultural policy
19:06
UK pledges additional £10 billion in aid to Ukraine, Zelenskyy says
Other countries
18:52
Azerbaijan, Türkiye discuss economic, trade and customs cooperation
Foreign policy
18:42
Photo
Azerbaijan, Rwanda discuss prospects for cultural cooperation
Cultural policy
18:31
AzeriCard's new scoring product to help lenders analyze payment behavior
Finance