Russia orders companies to cut oil output by 20pc from Feb levels, say sources | Malay Mail

📆 4/21/2020 2:48 AM
📰 malaymail

⏱ Reading Time:
33 sec. here
2 min. at publisher
📊 Quality Score:
News: 16%
Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

MOSCOW, April 20 — The Russian energy ministry has told domestic oil producers to reduce oil output by around 20 per cent from their average February levels, two industry sources told Reuters today, which would bring Moscow in line with its commitment under a global deal. The Organisation of the...

Monday, 20 Apr 2020 10:28 PM MYT

The Organisation of the Petroleum Exporting Countries and other large oil producers led by Russia, a group known as Opec+, agreed to cut their combined oil output by 9.7 million barrels per day in May and June in order to combat oversupply triggered by the coronavirus crisis. Russia, where output of a gas condensate stands at 0.6-0.7 million bpd, does not give breakdown for production of oil and gas condensate. In February, the combined output stood at 11.29 million bpd.

Vagit Alekperov, head of Russia’s No. 2 oil producer Lukoil, told Interfax news agency the company would reduce its output by 40,000 tonnes per day .

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tokyo stocks open lower on oil price plunge | Malay MailTOKYO, April 21 ― Tokyo stocks opened lower today, tracking falls on Wall Street as investor sentiment worsened on plunging oil prices. The benchmark Nikkei 225 index was down 0.96 per cent or 188.84 points at 19,480.28 in early trade, while the broader Topix Index fell 0.94 per cent or 13.46...
Source: malaymail - 🏆 1. / 86 Read more »