Russia will reduce oil production by 300 thousand barrels per day
Russia has agreed to cut oil production by 300,000 barrels per day. This was stated by the Minister of Energy of Qatar Mohammed bin Saleh al-Sada at a press conference after a meeting of OPEC members in Vienna. Russian Energy Minister Alexander Novak confirmed this information, saying that, subject to OPEC members meeting their obligations, “Russia will gradually reduce oil production in the first half of 2017 to 300,000 barrels per day,” Interfax reports.